The Monetary Authority of Singapore (MAS) has announced that it will implement the Payment Services Act on January 28, 2020, according to monetary authority of Singapore. All exchanges must file their applications by February 27, 2020, and MAS has made it clear that it will not accept any late applications. At the same time, MAS has published the latest Payment Service Provider Licence Application Guide ("New Guide") on its website and uploaded a sample of 4 licence application forms, including: Sample Form 1 - Payment Service Provider License Application Form, Form 2 - Payment Service Provider License Change Application Form, Form 3 - Payment Service Provider CEO, Director, Partner Approval Form, and Payment Service Provider Designated Period License Waiver Notice Form. Under this new act, all digital currency exchanges, wallets, and OTC platforms are payment tokens (including BTC, ETH, etc.) service providers that must comply with anti-money laundering regulations and apply for a license to operate in compliance.