Author

Ying Yi Liew

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The Monetary Authority of Singapore (MAS) has proposed a new Omnibus Act (New Act), which will contain a new regulatory framework for Singapore digital token service providers performing digital token services outside Singapore. The new regulatory framework entails two key aspects: (a) licensing requirements; and (b) anti money laundering (AML) and countering the financing of terrorism (CFT) regulations The Financial Action Task Force recently revised the FATF Standards (Standards) to enhance regulation of virtual asset service…