This blog entry focuses on Phase 2 of amendments to Singapore payments legislation. It expanded of the scope to domestic money transfer (DMT) service, cross-border money transfer (CBMT) service and digital payment token (DPT) service. Persons who started providing the expanded scope of services from 4 April 2024, must immediately cease providing such services, unless they can rely on an applicable exemption or exclusion. Persons who had started providing the expanded scope of services before…
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