Payment services act? which
It provides for regulatory certainty and consumer safeguards, while encouraging innovation and growth of payment services and fintech. On , singapores parliament passed the payment services act, which regulates payment services & places regulatory oversight with the monetary authority of singapore (mas).
Payment services act - deutsch-übersetzung linguee.
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The payment services (ps) act is a forward looking and flexible framework for the regulation of payment systems and payment service providers in singapore. Wood judge ends freeze.
Payment services act 2019 - singapore statutes online.
Strengthening singapores payment services through regulation 1 key themes of the bill oadening of the licensing a br regime for payments activities to create certainty for a wider spectrum of payment services providers a departure from a product-based licensing model towards a more flexible activities-based and risk-based licensing model single payment services licence for. Bitcoin prices trading.
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, and the clearing of exchange transactions between deposit-taking. Singapores new payment services act consolidates current regulatory frameworks for payments into a unified, expanded framework intended to align the payments ecosystem with the countrys smart nation vision.
Overview of singapores payment services act orionw.
Recognising the new risks arising from technology, which is transforming payments, as well as from the merging of services that were previously regulated separately, the payment services act (psa.). If you are currently licensed by the mas under the current regulatory framework, you may not need to re-apply for a licence.
Article 1 the purpose of this act is to enforce registration and provide other necessary measures with respect to the issuance of prepaid payment instruments, exchange transactions carried out by persons other than deposit-taking institutions, exchange of virtual currency, etc. Finanzdienstleistungsaufsicht), graurheindorfer straße 108, 53117 bonn, germany, and lurgiallee 12, 60439 frankfurt, germany, at any time to have complaints recorded in writing regarding violations by the bank of the german payment services oversight act (zahlungsdiensteaufsichtsgesetz, zag), sect.
However, the mas will put in place transitional arrangements. Bitcoin threatens fiat.