Singapore Payment Services Act 2019 (PSA) — Digital Payment Token Provisions
The Singapore Payment Services Act 2019 (PSA), administered by the Monetary Authority of Singapore (MAS), provides a modular licensing framework for payment service providers including digital payment token (DPT) services. DPT provisions cover exchanges, custodians, and transfer service providers. Anti-money laundering and consumer protection requirements. MAS has issued comprehensive DPT licensing guidelines including technology risk management, cybersecurity, and customer protection measures.
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Framework Domains (6)
AML/CFT Obligations for DPT Providers
| Code | Title |
|---|---|
| PSN02-1 | Customer due diligence |
| PSN02-2 | Suspicious transaction reporting |
| PSN02-3 | Record-keeping requirements |
| PSN02-4 | Sanctions screening |
| PSN02-5 | Internal policies and training |
Consumer Protection for DPT Services
| Code | Title |
|---|---|
| MAS Guideline | Risk warnings and disclosures |
| MAS Notice | Segregation of customer assets |
| Sec. 56A | Restriction on lending and staking |
| Sec. 57A | Market conduct requirements |
DPT Licensing
Digital payment token service regulation
DPT Service Definitions and Scope
| Code | Title |
|---|---|
| First Sched. | Payment services and DPT activities |
| Sec. 2(1) | Definition of digital payment token |
| Sec. 2(5) | DPT service activities |
| Sec. 3(1) | Territorial scope |
Licensing Requirements for DPT Providers
| Code | Title |
|---|---|
| Sec. 13 | Appointment of Commissioner |
| Sec. 5(1) | Licensing obligation |
| Sec. 6(4) | Major payment institution licence for DPT |
| Sec. 8(4) | Fit and proper criteria for DPT licensees |
Supervision and Enforcement
Supervisory bodies, liability, and penalty frameworks
| Code | Title |
|---|---|
| Art. 32 | Entry into Force |
| Art. 34 | Notification of Personal Information Breach |
| Art. 36 | Right to Correction or Deletion |
| Art. 69-71 | Supervisory Powers |
| Art. 70 | Criminal Penalties for False Consent |
| Art. 73 | Administrative Fines |
| Art.45 | Financial Services Commission Oversight |
| Art.50 | Penalties for Violations |
| Art.51 | Administrative Sanctions |
| Art.52 | Dispute Resolution |
| Sec. 35 | Security of Processing |
| Sec. 37 | Financial Penalties |
| Sec. 40 | Right to Object |
| Sec. 72 | Offences and penalties |
Your Compliance Coverage
If you comply with Singapore Payment Services Act 2019 (PSA) — Digital Payment Token Provisions, you already cover:
EU Digital Markets Act
23%
7 controls mapped
Compare →Angola Personal Data Protection Law (Law No. 22/11)
16%
5 controls mapped
Compare →Japan Act on Specified Commercial Transactions (ASCT) — Digital Services
16%
5 controls mapped
Compare →+ 517 more: Spain Organic Law 3/2018 on Data Protection and Digital Rights (LOPDGDD) (16%), Greece Law 4624/2019 — Hellenic Data Protection Authority (HDPA) Implementation Act (16%)
See all 520 mapped frameworks ↓Maps to 520 other frameworks
Frequently Asked Questions
What is Singapore Payment Services Act 2019 (PSA) — Digital Payment Token Provisions?
Singapore Payment Services Act 2019 (PSA) — Digital Payment Token Provisions is a compliance framework from Singapore (MAS) with 6 domains and 31 controls. The Singapore Payment Services Act 2019 (PSA), administered by the Monetary Authority of Singapore (MAS), provides a modular licensing framework for payment service providers including digital payment token (DPT) services. DPT provisions cover exchanges, custodians, and transfer service providers. Anti-money laundering and consumer protection requirements. MAS has issued comprehensive DPT licensing guidelines including technology risk management, cybersecurity, and customer protection measures. It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.
How many controls does Singapore Payment Services Act 2019 (PSA) — Digital Payment Token Provisions have?
Singapore Payment Services Act 2019 (PSA) — Digital Payment Token Provisions has 31 controls organised across 6 domains. The largest domains are Supervision and Enforcement (14 controls), AML/CFT Obligations for DPT Providers (5 controls), Consumer Protection for DPT Services (4 controls). Each control defines specific requirements that organisations must implement to achieve compliance.
What frameworks does Singapore Payment Services Act 2019 (PSA) — Digital Payment Token Provisions map to?
Singapore Payment Services Act 2019 (PSA) — Digital Payment Token Provisions maps to 520 other compliance frameworks. The top mapping partners are EU Digital Markets Act (23% coverage), Angola Personal Data Protection Law (Law No. 22/11) (16% coverage), Japan Act on Specified Commercial Transactions (ASCT) — Digital Services (16% coverage). Use our comparison tool to explore control-level mappings between frameworks.
How do I get started with Singapore Payment Services Act 2019 (PSA) — Digital Payment Token Provisions compliance?
Start your Singapore Payment Services Act 2019 (PSA) — Digital Payment Token Provisions compliance journey by running a self-assessment on our platform to identify your current compliance posture. Our AI advisory can answer specific questions about Singapore Payment Services Act 2019 (PSA) — Digital Payment Token Provisions requirements, and cross-framework mapping helps you leverage existing controls from other frameworks you may already comply with. Create a free account to access all 31 controls and track your progress.
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