pc
nid 93950
Jul 13, 2026
pthandapani@vixio.com
Singapore
Monetary Authority of Singapore
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1869 charsSingapore's Monetary Authority Publishes Anti-Money Laundering Supervisory Expectations for Digital Payment Token Service Providers
On July 13, 2026, the Monetary Authority of Singapore (MAS) published supervisory expectations for anti-money laundering and counter-terrorism financing (AML/CTF) compliance among digital payment token service providers. The information paper sets out MAS' expectations to guide these providers in implementing their AML/CTF and counter-proliferation financing (CPF) controls across key operational areas.
The guidance supplements existing AML/CTF/CPF requirements and should be read in conjunction with MAS Notice PS-N02 and its accompanying guidelines. The supervisory expectations apply to both Major Payment Institutions and Standard Payment Institutions that operate digital payment token services. The publication addresses the regulatory gap in supervisory guidance specific to digital payment token service providers, establishing clear expectations for how these entities should structure and maintain their compliance frameworks. By providing detailed supervisory expectations, MAS aims to promote consistent implementation of AML/CTF/CPF controls across the digital payment token sector and reduce compliance risks associated with money laundering and terrorism financing. The guidance is particularly significant given the evolving nature of digital payment token services and the associated regulatory challenges they present.
Digital payment token service providers should review the guidance and assess their current AML/CTF/CPF control frameworks against MAS' expectations. Providers should ensure their policies, procedures, and systems align with the supervisory expectations outlined in the information paper. The document is available on the MAS website for download.
REFERENCES:
Monetary Authority of Singapore. (2026, July 13). AML/CFT Supervisory Expectations for Digital Payment Token Service Providers. Retrieved from https://www.mas.gov.sg/
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1647 charsMonetary Authority of Singapore Publishes Anti-Money Laundering Supervisory Expectations for Digital Payment Token Service Providers
The Monetary Authority of Singapore (MAS) has issued an information paper detailing the AML/CFT supervisory expectations for digital payment token service providers.
The issued information paper contains:
Provisions prescribing a formalised approach to identify and assess money laundering and terrorism financing (ML/TF) risks before offering new products or listing new digital payment tokens (DPTs).
Specific rules mandating enhanced customer due diligence (ECDD) measures for politically exposed persons (PEPs) and higher risk customers, requiring senior management approval and the establishment of the customer's source of wealth (SOW) and source of funds (SOF).
Regulations outlining value transfer requirements to implement the Financial Action Task Force (FATF) travel rule, which require the secure transmission of originator and beneficiary information, alongside enhanced risk mitigation measures for transfers involving unhosted wallets.
Administrative measures detailing the necessity for robust ongoing monitoring of both fiat and digital payment token (DPT) transactions, paired with comprehensive screening controls to detect any nexus to sanctions or adverse information.
Directives establishing the requirement for due diligence on partners and outsourced service providers, as well as the implementation of tailored training programmes to ensure staff possess adequate expertise in blockchain technology and associated risks.
The MAS states that the information paper must be read in conjunction with Notice PSN02 Prevention of Money Laundering and Countering the Financing of Terrorism and its accompanying guidelines .