According to the official website of the Monetary Authority of Singapore, the Monetary Authority of Singapore announced that it will officially implement the Payment Service Act from January 28, 2020. All exchanges must submit application filing documents by February 27, 2020. MAS has clearly stated that it will not accept any overdue applications. The Monetary Authority of Singapore (MAS) published the latest "Payment Service Provider License Application Guide" ("New Guide") on its website and uploaded a total of 4 sample license application forms, including: Samples of Forms, Samples of Form 2-Payment Service Provider Licence Change Application Forms, Samples of Form 3-Payment Service Provider CEO, Director, and Partner Approval Forms, and Samples of Payment Service Provider License Exemption Notification Form Specified Period . It is worth noting that this bill has made Singapore one of the few countries with clear regulation of the digital currency business. Under this new bill: all digital currency exchanges, wallets and OTC platforms are service providers related to payment tokens (including BTC, ETH, etc.), and must meet relevant anti-money laundering regulations and apply for corresponding licenses to operate in compliance .