Singapore Payment Services Act 2019 (PSA — Digital Payment Tokens)

Licences and regulates digital payment token service providers in Singapore under MAS supervision.

11

Rules extracted

176

Obligations decomposed

16.0x

Avg obligations per rule

🇸🇬 Singapore

Jurisdiction

About this regulation

The Payment Services Act 2019 establishes a comprehensive licensing and regulatory framework for payment service providers in Singapore, including providers of digital payment token (DPT) services. It consolidates the previously separate Money-Changing and Remittance Businesses Act and the Payment Systems (Oversight) Act. Key provisions cover licensing of standard and major payment institutions, capital requirements, AML/CFT obligations for DPT service providers under MAS Notice PSN02, technology risk management, user protection measures, custody of customer assets, cross-border transfer requirements, and Travel Rule compliance for virtual asset transfers.

What AuditDSS covers

Source

1

Regulation

Extracted

11

Rules

Decomposed

176

Obligations

16.0x

Decomposition ratio

Each rule is decomposed into an average of 16.0 atomic obligations — the smallest testable units that can be independently violated.

Fully extracted & scored

All 176 obligations have been decomposed, titled, risk-scored, and embedded for semantic matching.

Risk scoring

Every obligation in PSA 2019 is scored across independent risk dimensions:

W

Obligation Weight

How critical within the regulatory framework

L

Violation Likelihood

How often breached in practice

E

Enforcement Evidence

Regulator enforcement history and penalties

C

Cascade Dependency

How many obligations depend on this one

Regulatory details

Full title
Singapore Payment Services Act 2019 (PSA — Digital Payment Tokens)
Regulatory body
Monetary Authority of Singapore
Jurisdiction
🇸🇬 Singapore
Document type
statute
Effective date
January 28, 2020
Issuing authority
Monetary Authority of Singapore (MAS)
Official source
View source document ↗

Who this applies to

standard payment institutionsmajor payment institutionsDPT service providerscustodial service providers

Key requirements

  • licensing for DPT services
  • capital and financial requirements
  • AML/CFT compliance
  • technology risk management
  • user protection
  • custody of customer DPTs
  • Travel Rule compliance
  • governance and compliance

Frequently asked questions about PSA 2019

What is PSA 2019?

The Payment Services Act 2019 establishes a comprehensive licensing and regulatory framework for payment service providers in Singapore, including providers of digital payment token (DPT) services. It consolidates the previously separate Money-Changing and Remittance Businesses Act and the Payment Systems (Oversight) Act. Key provisions cover licensing of standard and major payment institutions, capital requirements, AML/CFT obligations for DPT service providers under MAS Notice PSN02, technology risk management, user protection measures, custody of customer assets, cross-border transfer requirements, and Travel Rule compliance for virtual asset transfers.

Who does PSA 2019 apply to?

PSA 2019 applies to standard payment institutions, major payment institutions, DPT service providers, custodial service providers.

How many obligations does PSA 2019 contain?

AuditDSS has decomposed PSA 2019 into 176 atomic obligations from 11 rules. Each obligation is independently testable and risk-scored.

What are the key requirements of PSA 2019?

The key requirements include: licensing for DPT services, capital and financial requirements, AML/CFT compliance, technology risk management, user protection, custody of customer DPTs, Travel Rule compliance, governance and compliance.

How can I assess my PSA 2019 compliance?

Upload your compliance policy to AuditDSS. The platform maps your document against all 176 PSA 2019 obligations using deterministic AI scoring — not checklists or LLM summaries. You get a risk-scored gap analysis showing exactly which obligations are covered, partially covered, or missing.

Which jurisdiction enforces PSA 2019?

PSA 2019 is enforced in Singapore by Monetary Authority of Singapore.

When did PSA 2019 come into effect?

PSA 2019 became effective on January 28, 2020.

What industry does PSA 2019 apply to?

PSA 2019 is primarily relevant to the AML & Counter-Terrorism Financing industry. AuditDSS covers 64 regulations in this industry sector.

Build a PSA 2019 compliance pack

Don't have a compliance policy yet? AuditDSS generates a complete compliance pack for PSA 2019 — alone or combined with other regulations your business needs. Every clause is mapped to specific obligations.

Policy

High-level commitments and governance framework covering PSA 2019 requirements.

Procedures

Step-by-step operational procedures to implement each policy commitment.

Forms & checklists

Ready-to-use forms, registers, and checklists for day-to-day compliance operations.

Multi-regulation

Combine PSA 2019 with other regulations into a single unified compliance pack for your business.

Already have a policy? Assess it against PSA 2019

1

Upload your document

Upload your compliance policy, program manual, or operational document. AuditDSS accepts any text-based document.

2

AI maps against 176 obligations

Your document is scored against every obligation in PSA 2019. Each claim is mapped to the obligation tree and evaluated for coverage.

3

Risk-scored gap report

Receive every gap ranked by risk priority with remediation guidance, enforcement evidence, and cascade impact analysis.

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Assess your PSA 2019 compliance

Upload your document and get a risk-scored gap analysis against 176 PSA 2019 obligations in under 5 minutes.