由於K公司有義務向持有人回購令牌K，如果令牌K代表公司K對持有人的債務，即每個令牌K還款1美元，則令牌K可構成債券。
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.
根據K公司的業務活動以及Token K是否為債券，K公司可能需要資本市場服務許可證才能在SFA下交易作為證券的資本市場產品，除非另有豁免。資本市場服務許可證持有人在交易作為資本市場產品的代幣時開展業務，必須遵守MAS通告SFA04-N02規定的AML / CFT要求。
Application of the proposed PSB
PSB適用於該案例
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可以被視為PSB下的「電子貨幣」。 K公司應該考慮Token K是否也符合PSB中定義的「電子貨幣」的其他要素，以及它是否正在開展提供PSB中定義的「電子貨幣發行服務」的業務。如果K公司經營提供電子貨幣發行服務的業務，則必須根據PSB獲得許可，除非PSB將其排除在外。
Forwarded from Official Account
比特律
