Company: BTBT
Filing Date: 2025-07-03
Form Type: S-8 POS
Source: 0001213900-25-061371
Chunk: 111

Company: Bit Digital, Inc
Filing Date: 2025-07-03
Form: S-8 POS
Chunk 111
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and record-keeping requirements, audit requirements, base capital requirements, anti-money laundering requirements (see below), the requirement
to furnish security (for a major payment institution), the requirement to safeguard customer monies (for a major payment institution),
and other applicable requirements. Licensees are expected to implement certain systems, processes and controls in line with MAS’
Guidelines on Risk Management Practices applicable to financial institutions in Singapore. BTSG intends to trade and stake ETH on its
own account, not to provide any payment service to customers and not to carry on a business of “dealing in” DPT as a service
to any third-party. In particular, BTSG: (i) will use its own proprietary money for trading and/or staking (no customer money is used);
(ii) will not trade or stake DPTs for or on behalf of customers; (iii) will not market or advertise that it provides any such service
to customers; (iv) will not enter into trades with counterparties as a matter of course (e.g. at the customer’s request) or stake
DPT at a customer’s request; (v) will only enter into trades or staking arrangements based on its own personal/proprietary needs;
(vi) will not collect any fees from counterparties (instead, it is the counterparties that are service providers, providing services to
BTSG); and (vii) will only trade or stake through or with licensed or licensed service providers. Accordingly, BTSG is unlikely to be
regarded as carrying on a business in providing a “digital payment token service” under the PS Act’s current regulatory
regime.

However, there remains a risk that MAS may take
a more restrictive view, with the trading of ETH being construed as “dealing in DPT”, requiring a license under the PS Act.
In addition, laws and regulations related to payments and financial services are evolving in Singapore, and changes in such laws and regulations
could affect our business practices in the manner that we have done, expect to do, or at all. MAS could enact new regulations, change
regulations that were previously adopted, modify, through supervision or enforcement, past regulatory guidance, or interpret existing
regulations in a manner different or stricter than have been previously interpreted, any of which could adversely affect or require us
to change BTSG’s business practices in Singapore.

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Regulations on Anti-money Laundering and Countering the Financing of Terrorism