The Monetary Authority of Singapore (“MAS”) requires a legal opinion on each of the tokens (excluding Bitcoin, Ethereum) listed on XPOS, XWallet and XPASS Card (“our Platform”).
Because we have applied to be licensed by the MAS, the written legal opinion has to be based on Singapore law. And the MAS has specified that legal opinion needs to provide an assessment on:
- whether or not the token is a Digital Payment Token under the Payment Services Act (2019); and
- whether or not the token is a Capital Markets Product under the Securities and Futures Act.
To comply with the requirement, the tokens available on Pundi X products and services are adjusted as follows, starting from 12:00:00 GMT+8 on April 25, 2021:
- Bitcoin (BTC)
- Binance Coin (BNB)
- Dai (DAI)
- Ethereum (ETH)
- Function X (FX)
- NEM (XEM)
- Pundi X (PUNDIX)
- Pundi X NEM (NPXSXEM)
- Tether (USDT)
- Arro (ARRO)
Please be informed that the crypto sale and crypto payment of the tokens listed below will be temporarily suspended until such time we receive the required legal opinion from their Project Owners. And the sale of these tokens will resume thereafter.
Customers holding the tokens listed below may withdraw their respective tokens from their XWallet App before 23:59:59 GMT+8 on April 30, 2021 to avoid any disruptions.
The affected tokens are CRE, DGX, ENJ, LIME/LIMEX, IDRT, KCS, KNC, QTUM, VRH, WAN, wanBTC, wanEOS, wanETH, XDB.
After April 30 2021, the deposit and withdrawal of the above tokens via XWallet will be temporarily suspended. If you encounter any issues, you can submit a request to our customer support at https://support.pundix.com/hc/en-us/requests/new.
Thank you for your continued support and your understanding of any inconvenience it may cause.
Pundi X Team