Part 9 of the Financial Services and Markets Act 2022 extends Singapore's regulatory oversight to Singapore-incorporated digital token service providers (DTSPs) serving customers outside Singapore. It requires licensing, fit-and-proper, AML/CFT and supervisory compliance, addressing regulatory risk from outward-facing digital token services. The DTSP regime commenced on 30 June 2025.
Acteffective
Financial Services and Markets Act 2022 (No. 28 of 2022) — Part 9
Also known as: Financial Services and Markets Act 2022 — Part 9 Digital Token Service Providers
Singapore Monetary Authority of Singapore (MAS)
Overview
Key Details
Jurisdiction
SingaporeRegulator
Monetary Authority of Singapore (MAS)
Law Type
Act
Status
In ForceOfficial Law Number
No. 28 of 2022, Part 9
Official Title
Financial Services and Markets Act 2022 (No. 28 of 2022) — Part 9
Enacted Date
April 5, 2022
Effective Date
Effective date not specified
Who This Law Applies To
Singapore-incorporated entities or persons carrying on digital token services exclusively outside Singapore where Part 9 applies.
Key Requirements
- Extends Singapore oversight to certain outward-facing digital token service providers.
- Requires licensing and fit-and-proper, AML/CFT and supervisory compliance.
- Addresses regulatory risk where digital token services are offered only outside Singapore.
Official Sources
Official instrument pageVerify current commencement notice and MAS transitional statements before publishing effective date.
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Brazil's Central Bank (BCB) Resolutions No. 519, 520 and 521 of 10 November 2025 implement the virtual-asset regulatory framework under the supervision of the Central Bank. Resolution 519 establishes VASP authorisation procedures; Resolution 520 sets activity, governance, controls, security and conduct requirements; Resolution 521 integrates specified virtual-asset operations into Brazil's foreign-exchange and international-capital rules. Commencement is staged during 2026 — verify the effective date for each resolution separately.
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The IOSCO Policy Recommendations for Crypto and Digital Asset Markets (2023) contain 18 recommendations grounded in the principle of consistent regulation of economically equivalent activities. They address conflicts of interest, market manipulation, custody, disclosure, retail risks and cross-border cooperation. IOSCO recommendations are not self-executing domestic law — implementation depends on member regulators in their respective jurisdictions.
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