Regulation 8

replace paragraph (3) with —“(3) In sub‑paragraph C(6) of section III of the CRS, the reference to 31 December of a year is a reference to —

in the case of a pre‑existing individual account that is a financial account under paragraph (13)(a) or (b) — 31 December 2016; or

in the case of a pre‑existing individual account that is a financial account under paragraph (13)(c) or (d) — 31 December 2026.”;

in paragraph (4), after “pre‑existing individual accounts”, insert “that are financial accounts under paragraph (13)(a) or (b)”;

after paragraph (4), insert —“(4A) For the purpose of paragraph D of section III of the CRS, a reporting Singaporean financial institution must, in respect of pre‑existing individual accounts that are financial accounts under paragraph (13)(c) or (d) —

complete its review of high value accounts by 31 December 2027; and

complete its review of lower value accounts by 31 December 2028.”;

replace paragraph (5) with —“(5) In paragraphs A and B of section V of the CRS, all references to 31 December of a year are references to —

in the case of a pre‑existing account under paragraph (13)(a) or (b) — 31 December 2016; or

in the case of a pre‑existing account under paragraph (13)(c) or (d) — 31 December 2026.”;

in paragraph (7), after “all pre‑existing entity accounts”, insert “that are financial accounts under paragraph (13)(a) or (b)”;

after paragraph (7), insert —“(7A) For the purposes of sub‑paragraph D(1) of section V of the CRS, a reporting Singaporean financial institution must complete its review of all pre‑existing entity accounts that are financial accounts under paragraph (13)(c) or (d) with an aggregate account balance or value that exceeds USD 250,000 as of 31 December 2016 by 31 December 2028.”;

replace paragraph (8) with —“(8) In sub‑paragraph D(2) of section V of the CRS, the first reference to 31 December of a year is a reference to —

in the case of pre‑existing entity accounts that are financial accounts under paragraph (13)(a) or (b) — 31 December 2016; or

in the case of pre‑existing entity accounts that are financial accounts under paragraph (13)(c) or (d) — 31 December 2026.”;

after paragraph (11), insert —“(11A) In sub‑paragraph A(13) of section VIII of the CRS, “Reporting Crypto‑Asset Service Provider” means any individual or entity that, as a business, provides a service effectuating Exchange Transactions (as defined in sub‑paragraph A(14) of section VIII of the CRS) for or on behalf of customers, including by acting as a counterparty, or as an intermediary, to such Exchange Transactions, or by making available a trading platform.

In sub‑paragraph B(10) of section VIII of the CRS, “Singapore” is inserted in each placeholder for the jurisdiction.”;

in paragraph (13)(a), delete “or” at the end;

in paragraph (13)(b)(v), replace the full‑stop at the end with a semi‑colon;

in paragraph (13), after sub‑paragraph (b), insert —“(c)a financial account maintained by the reporting Singaporean financial institution as of 31 December 2026 if the account is treated as a financial account solely by virtue of the amendments to the CRS that are made on 8 June 2023; or

any other financial account maintained by the reporting Singaporean financial institution on or after 1 January 2027 if all of the following conditions are satisfied:

as of 31 December 2026, the account holder of the financial account has an account with the institution, or a local entity that is related to the institution, that is treated as a financial account solely by virtue of the amendments to the CRS that are made on 8 June 2023;

the reporting Singaporean financial institution treats one or more of the financial accounts mentioned in sub‑paragraph (c) of the account holder, and all other financial accounts of the account holder that are treated as pre‑existing accounts under this sub‑paragraph and maintained by —

the institution; and

all local entities that are related to the institution (if any),as a single financial account for the purpose of determining whether an amount of any matter mentioned in a prescribed provision in respect of such single financial account, exceeds the maximum amount specified for that matter in that provision;

the reporting Singaporean financial institution does not know and does not have any reason to believe that any self‑certification or documentary evidence of the financial account or any of the financial accounts treated as a single financial account under sub‑paragraph (ii) is incorrect or unreliable;

where the reporting Singaporean financial institution is required by any written law to perform AML/KYC procedures on the financial account, the institution has performed the AML/KYC procedures on the financial account;

the reporting Singaporean financial institution does not require the provision of any new, additional or amended information by the account holder for the opening of the financial account, other than for the purposes of facilitating the compliance by the institution with regulation 14 or 16.”;

in paragraphs (14) and (15), after “paragraph (13)(b)(i) and (ii)”, insert “and (d)(i) and (ii)”;

in paragraph (16), replace the definition of “High Value Account” with —“ “High Value Account” means —

a pre‑existing individual account that is a financial account under paragraph (13)(a) or (b) with an aggregate balance or value that exceeds USD 1,000,000 as of 31 December 2016 or 31 December of any subsequent year; or

a pre‑existing individual account that is a financial account under paragraph (13)(c) or (d) with an aggregate balance or value that exceeds USD 1,000,000 as of 31 December 2026 or 31 December of any subsequent year;”; and

in paragraph (16), replace the definitions of “Lower Value Account” and “New Account” with —“ “Lower Value Account” means —

a pre‑existing individual account that is a financial account under paragraph (13)(a) or (b), with an aggregate balance or value as of 31 December 2016 that does not exceed USD 1,000,000; or

a pre‑existing individual account that is a financial account under paragraph (13)(c) or (d), with an aggregate balance or value as of 31 December 2026 that does not exceed USD 1,000,000;“New Account” means a financial account maintained by a reporting Singaporean financial institution —

opened on or after 1 January 2017; or

if the account is a financial account solely by virtue of the amendments to the CRS that are made on 8 June 2023 — on or after 1 January 2027;”.