MAS Licensing & Regulatory Authorization for Crypto Businesses

Drew & Napier's Financial Services Regulation practice provides expert legal services for obtaining and maintaining regulatory licenses and authorisations from the Monetary Authority of Singapore (MAS) for cryptocurrency, digital asset, and FinTech businesses. Led by Grace Chong, a former in-house counsel at MAS, the practice brings unparalleled regulatory insights and strategic guidance.

Practice Leadership

Grace Chong's extensive background includes:

• Former in-house counsel at MAS (Singapore's central bank and financial regulator)
• Former Global International Investigations Group counsel at a major international bank's Hong Kong headquarters
• Strong working relationships with regulatory bodies and industry associations

Licensing Services for Digital Asset Businesses

Digital Payment Token (DPT) Licensing: Comprehensive assistance with:

• Digital Payment Token service provider license applications under the Payment Services Act
• Major Payment Institution (MPI) license applications for crypto exchanges
• Payment institution licenses for crypto payment processors
• License renewals and ongoing regulatory compliance
• Regulatory filings and correspondence with MAS

Capital Markets & Securities Licensing: Expert guidance on:

• Capital markets services licenses for security token offerings
• Fund management licenses for crypto asset managers
• Broker-dealer applications for digital asset trading platforms
• Financial advisers licenses for crypto investment advisory

Banking & Financial Institution Licensing: Strategic advisory for:

• Banking licenses and merchant bank licenses
• Market operator and exchange licenses
• Insurance and brokerage authorisations for crypto-related products

Regulatory Application Process Management

The practice handles the complete licensing lifecycle:

Application Preparation & Submission: End-to-end support including:

• Regulatory requirements assessment and gap analysis
• Application documentation preparation and drafting
• Business plan and compliance framework development
• Financial projections and capital adequacy analysis
• Key personnel fitness and propriety assessments
• Application submission and MAS liaison

Regulatory Correspondence: Managing interactions with MAS throughout:

• Responding to MAS queries and requests for information
• Clarification meetings and regulatory discussions
• Negotiating license conditions and regulatory requirements
• Addressing regulatory concerns and objections

License Renewals & Variations: Ongoing regulatory maintenance:

• Annual license renewals and regulatory filings
• License variation applications for business expansion
• Change of control notifications and approvals
• Material change filings and regulatory updates

Specialized Crypto & Blockchain Licensing Expertise

The practice advises on Singapore-specific digital asset regulatory frameworks:

MAS Payment Services Act Compliance: Deep expertise in:

• DPT service provider licensing requirements and obligations
• AML/CFT compliance for licensed entities
• Business conduct requirements for DPT services
• Technology risk management obligations

Tokenisation Platform Licensing: Guidance on:

• MAS Project Guardian participation and regulatory sandbox applications
• Security token platform licensing under capital markets regime
• Stablecoin regulatory frameworks and MAS requirements
• Cross-border digital asset service provision

Integration with Compliance Services

Licensing work integrates seamlessly with:

• Compliance framework development post-licensing
• AML/CFT policy and procedure implementation
• Ongoing regulatory compliance advisory
• Regulatory audit preparation and examinations

The team's comprehensive knowledge and former regulator experience ensure clients receive effective and pragmatic solutions to navigate Singapore's licensing requirements for innovative FinTech and digital asset business models.