Singapore monetary authority hasn't seen any tokens as securities yet

19 Sep, 2018
by Fifi Arisandi
Singapore monetary authority hasn't seen any tokens as securities yet

Singapore's Monetary Authority of Singapore (MAS) stated that they haven't seen any tokens as securities yet, thus far.  

Singapore's Money Authority of Singapore (MAS), represented by the head of technology infrastructure, Damien Pang, stated in Coindesk's Consensus Singapore 2018 that his organization hasn't seen any tokens could be regarded as securities yet so far, despite more than 1,000 tokens they acknowledge. 

That being said, the regulatory body also takes into account the past, current and future characteristics of tokens, not only the underlying technology, thus the categorization could change over time. 

At the moment, the MAS divide digital tokens to 3 categories, they are utility tokens, payment tokens, and securities. He explained, "The MAS does not intend to regulate utility tokens that are used to access certain services. But a payments service bill is expected to be enacted by the end of this year to apply to payment tokens, which have storage and payment values."

Furthermore, Pang also said that the country's securities and futures act will apply to the assets, whose characteristics become "more aligned with features of securities offerings, such as promising future earnings", as reported by Coindesk

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