Cha & Kwon Law Offices has conducted a review to determine whether a domestic business is required to register as a Virtual Asset Service Provider under the Singapore Payment Service Act if its Singaporean entity issues and operates tokens.

The Monetary Authority Services, Singapore's supervisory authority, has stated that it will regulate entities registered in Singapore, even if they provide cryptocurrency services outside of Singapore, for anti-money laundering purposes. Therefore, it is crucial for experts to review the services operated by Singapore corporations in advance.

Cha & Kwon Law Offices specializes in legal issues related to blockchain operations and has expertise in analyzing domestic and international regulations concerning virtual assets. Please contact us for expert legal assistance.