Tharman Shanmugaratnam, Senior Minister and Minister in Charge of the Monetary Authority of Singapore, said in response to a parliamentary question that not all activities related to digital payment tokens (DPT) are regulated, and companies providing services involving the purchase, sale or facilitation of DPT exchange will be subject to Singapore Regulation under the Payment Services Act 2019 (PS Act). Foresight News previously reported that Sopnendu Mohanty, chief financial technology officer of the Monetary Authority of Singapore, said that it will crack down on cryptocurrency speculation.