The Monetary Authority of Singapore (MAS) has published "Guide to Digital Token Offers", whose purpose is to clarify that the initial currency offerings (ICO) will be subject to Singapore's Securities laws. This document contains followings of a statement of DAS on August 1, which have earlier clarified that the issuers of securities in Singapore come under regulatory jurisdiction of the securities laws administered by the D.O.SS
source https://news.bitcoin.com/monetary-authority-of-singapore-publishes-guide-to-digital-token-offerings/