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The Guidelines on the Provision of Consumer Protection Safeguards by Digital Payment Token Service Providers ("Guidelines") was first issued by the Monetary Authority of Singapore (MAS) on 2 April 2024 and was recently revised on 19 September 2024 to include further consumer protection measures that were discussed in the MAS' Response to Public Consultation on Proposed Regulatory Measures for Digital Payment Token Services (Part 2).
The additional measures that a digital payment token (DPT) service provider (DPTSP) should implement include the following:
Unless otherwise set out in our summary of the measures below, the additional measures take effect on 19 June 2025.
Click here to read the full alert.
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