ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Sunday Jun 24th 2018
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

Monetary Authority Of Singapore Issues Digital Token Guidance

By

Matthew

De Silva

WriterETHNews.com

The Monetary Authority of Singapore has released new guidance on digital tokens. If digital tokens fall under the Securities and Futures Act, then their offer and issuance will be regulated by MAS.

On August 1, 2017, the Monetary Authority of Singapore (MAS) clarified its regulatory position on digital tokens and virtual currency in light of the increasing popularity of token offerings/ICOs. This closely follows a recent report by the US Securities and Exchange Commission that also dealt with token regulation.

According to MAS, if digital tokens constitute products regulated under Singapore’s Securities and Futures Act (Cap. 289), then their offer or issuance will fall under the regulatory purview of MAS. MAS functions as both Singapore’s central bank and financial regulatory authority.

The latest guidance will affect companies that engage in token offerings/ICOs and exchanges that facilitate trading.

Where digital tokens fall within the definition of securities in the SFA, issuers of such tokens would be required to lodge and register a prospectus with MAS prior to the offer of such tokens, unless exempted. Issuers or intermediaries of such tokens would also be subject to licensing requirements under the SFA and Financial Advisers Act (Cap. 110), unless exempted, and the applicable requirements on anti-money laundering and countering the financing of terrorism.

Issuers of digital tokens will face more stringent disclosure and licensing requirements from MAS, as will trading platforms.

Per the MAS release, “In addition, platforms facilitating secondary trading of such tokens would also have to be approved or recognised by MAS as an approved exchange or recognised market operator respectively under the SFA.”

Digital asset owners will be heartened to learn that MAS acknowledges that a token can be representative of something other than currency or a security. MAS defines a digital token as “a cryptographically-secured representation of a token holder's rights to receive a benefit or to perform specified functions.”

With this announcement, MAS has taken an active – but cautious – approach to digital asset regulation. It’s worth noting that in late May, the MAS concluded its study of a tokenized national currency.

Matthew De Silva

Matthew is a full-time staff writer for ETHNews with a passion for law and technology. In 2016, he graduated from Georgetown University where he studied international economics and music. Matthew enjoys biking and listening to podcasts. He lives in Los Angeles and holds no value in any cryptocurrencies.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Monetary Authority Of Singapore, token offerings or other Ethereum law and legislation news.