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Singapore Proposes New Measures for Digital Payment Token Services

The Digital Payment Token (DPT) service providers in Singapore may be required to safely keep customers' assets under a statutory trust before the end of the year. This is according to new measures announced today (Monday) by the country's financial markets regulator.The DPT service providers must separate customer funds from their own, conduct a daily reconciliation of the assets, and keep proper records, the MAS said. They are also required to disclose to their customers the risks involved in... Read More

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Posted: Jul 3 2023, 11:26

Author Name: financemagnates

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