MAS Sets Hard June 30 Deadline for Unlicensed Crypto Firms Serving Overseas Clients
Singapore’s Monetary Authority (MAS) has delivered an ultimatum to the city-state’s crypto industry: obtain a Digital Token Service Provider (DTSP) license or stop serving overseas clients by June 30, 2025. The regulator’s firm stance leaves no room for negotiation, with no transition period offered and penalties awaiting non-compliant firms.
The directive affects all Singapore-based crypto firms or those incorporated in Singapore that provide digital token services to clients outside the country without the required DTSP license under the Financial Services and Markets Act 2022 (FSM Act).
No Grace Period, Limited Licensing Opportunities
In a paper published on Friday, MAS made clear that DTSPs subject to licensing requirements…
