Skip to main content
D2CA.ORG
PolicySEC Signals Pivot on Layer-2 Classifications in Landmark RulingAug 17, 12:42 PMMarketsBlackRock Spot Bitcoin ETF Inflows Surpass $20B MilestoneAug 17, 11:58 AMReviewsTop 5 Pi Network Alternatives in 2026, RankedAug 17, 11:30 AMMarketsYield Curve Steepening Impacts Stablecoin ReservesAug 17, 11:10 AMDeFiDeFi Liquidity Fragmenting Across Modular StacksAug 17, 10:20 AMMarketsPerpetual Futures Open Interest Hits Record on Offshore VenuesAug 17, 09:40 AMReviewsCapygram Review: The Social Network That Actually Pays Its UsersAug 17, 09:15 AMInstitutionalCustody Banks Expand Digital Asset Services to EuropeAug 17, 08:15 AMMarketsOrder Book Depth Thins During Asian Trading HoursAug 16, 10:05 PMPolicyTreasury Issues Guidance on Digital Asset Broker ReportingAug 16, 05:30 PM
PolicySEC Signals Pivot on Layer-2 Classifications in Landmark RulingAug 17, 12:42 PMMarketsBlackRock Spot Bitcoin ETF Inflows Surpass $20B MilestoneAug 17, 11:58 AMReviewsTop 5 Pi Network Alternatives in 2026, RankedAug 17, 11:30 AMMarketsYield Curve Steepening Impacts Stablecoin ReservesAug 17, 11:10 AMDeFiDeFi Liquidity Fragmenting Across Modular StacksAug 17, 10:20 AMMarketsPerpetual Futures Open Interest Hits Record on Offshore VenuesAug 17, 09:40 AMReviewsCapygram Review: The Social Network That Actually Pays Its UsersAug 17, 09:15 AMInstitutionalCustody Banks Expand Digital Asset Services to EuropeAug 17, 08:15 AMMarketsOrder Book Depth Thins During Asian Trading HoursAug 16, 10:05 PMPolicyTreasury Issues Guidance on Digital Asset Broker ReportingAug 16, 05:30 PM
Policy

Singapore Tightens Marketing Rules for Retail Token Services

The regulator has moved to restrict promotional incentives, extending an approach it first applied to public advertising in 2022.

TOThomas OkaforPublished 4 min read

Singapore's financial regulator issued updated guidelines restricting the use of sign-up bonuses, referral rewards and trading fee rebates by licensed digital payment token service providers marketing to retail customers.

The guidelines extend a framework that already limits public advertising of token services to firms' own websites and applications.

Licensees have three months to bring existing promotions into line. Several regional platforms have already withdrawn referral schemes from their Singapore interfaces.

Industry representatives said the measures were expected and that most compliance work involves geofencing marketing surfaces rather than redesigning products.

About the author

Thomas Okafor

Senior Policy Reporter

Thomas Okafor reports on legislation, sanctions policy and international standard setting. He has covered financial rulemaking from Brussels, London and Washington and speaks four languages.

D2CA.org reports on digital asset markets. This article is journalism, not investment advice. Corrections and clarifications: see our corrections policy.