由于K公司有义务向持有人回购令牌K，如果令牌K代表公司K对持有人的债务，即每个令牌K还款1美元，则令牌K可构成债券。
Depending on the business activities of Company K and whether Token K is a debenture, Company K may require a capital markets services licence for dealing in capital markets products that are securities under the SFA, unless otherwise exempted. Holders of a capital markets services licence that carry on business in dealing in tokens that are capital markets products are required to comply with AML/CFT requirements under MAS Notice SFA04-N02.
根据K公司的业务活动以及Token K是否为债券，K公司可能需要资本市场服务许可证才能在SFA下交易作为证券的资本市场产品，除非另有豁免。资本市场服务许可证持有人在交易作为资本市场产品的代币时开展业务，必须遵守MAS通告SFA04-N02规定的AML / CFT要求。
Application of the proposed PSB
PSB适用于该案例
Token K may be considered “e-money” under the PSB. Company K should consider if Token K also meets the other elements of “e-money” as defined in the PSB, and whether it is carrying on a business of providing “e-money issuance service” as defined in the PSB. If Company K is carrying on a business providing e-money issuance services, it must be licensed under the PSB, unless excluded under the PSB.
令牌K可以被视为PSB下的“电子货币”。 K公司应该考虑Token K是否也符合PSB中定义的“电子货币”的其他要素，以及它是否正在开展提供PSB中定义的“电子货币发行服务”的业务。如果K公司经营提供电子货币发行服务的业务，则必须根据PSB获得许可，除非PSB将其排除在外。
Forwarded from Official Account
比特律
