Singapore Compliance
Introduction
Chain-Fi operates within Singapore as a security + identity layer that provides non-custodial Web3 security infrastructure. This page explains how Chain-Fi complies with Singapore regulatory requirements.
What Chain-Fi Is NOT
Chain-Fi does NOT:
- Custody funds
- Store private keys
- Transmit virtual assets
- Execute transactions
- Mediate payments
- Act as an exchange
- Act as a broker
- Fall under custodial wallet rules
- Qualify as a money transmitter
- Process fiat payments
- Take control of user funds
This protects Chain-Fi from being misclassified under Singapore regulatory regimes.
Applicable Regulations
| Regulation | Applies? | Explanation | Details |
|---|---|---|---|
| MAS Payment Services Act | ⚠ Partial | Does NOT apply as payment service provider | We do NOT initiate payments, process payment transactions, or provide payment services (see "What Chain-Fi Is NOT" above). MAS Payment Services Act licensing requirements do not apply to our non-custodial infrastructure services. |
| MAS Digital Payment Token Services | ⚠ Partial | Does NOT apply as custodial DPT service | We do NOT custody digital payment tokens, store private keys, or operate as a custodial DPT service provider (see "What Chain-Fi Is NOT" above). Our non-custodial vaults and identity services fall outside MAS custodial DPT service definitions. However, we may assist DPT service providers with compliance tools. |
| PDPA | ✔ | Personal data protection compliance | We implement PDPA-compliant measures including consent management, purpose limitation, data retention policies, data breach notification, and data subject rights. See Data Protection & Privacy. |
| AML/CFT Regulations | ✔ | Customer due diligence and monitoring | We implement AML/CFT-compatible controls including customer identification, transaction monitoring, and suspicious activity reporting. See VAT & AML. |
Regulatory Position
Chain-Fi's non-custodial architecture means:
- MAS Licensing: Evaluating Digital Payment Token (DPT) service licensing requirements
- PDPA Compliance: Full compliance with Singapore data protection laws
- AML/CFT Obligations: Customer due diligence and transaction monitoring
- Payment Services: Assessing applicability of Payment Services Act
Compliance Framework
MAS Requirements
- Digital Payment Token service classification
- Licensing requirements (if applicable)
- Operational compliance
- Regulatory reporting
PDPA Compliance
- Consent management
- Purpose limitation
- Data retention policies
- Data breach notification
- Data subject rights
AML/CFT Compliance
- Customer due diligence (CDD)
- Enhanced due diligence (EDD)
- Suspicious transaction reporting
- Record-keeping requirements
Ongoing Compliance
We continuously monitor:
- MAS regulatory guidance
- PDPC (Personal Data Protection Commission) updates
- AML/CFT policy developments
- Industry best practices
Contact
For questions about Chain-Fi's Singapore compliance posture, please contact our compliance team.
