Ripple Fintech Technology with XRP going forward in Singapore, VeChain & Nike

Cryptocurrencies Regulatory Landscape in Singapore
The Payment Services Act came into force in 28 January 2020, Crypto firms are under MAS’s regulatory scope; Crypto firms should comply with AML & CTF requirements; A list of cryptocurrency firms has been published to exempt them from holding a payments license in Singapore until 28 July 2020; New e-tax guide for digital tokens was published, payment tokens are taxable except airdrops or hard forks; utility tokens are deductible; security tokens are taxable only when classified as a “revenue asset”; ICOs issuing utility tokens are taxable as soon as they deliver the goods.


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