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Singapore Warns Unlicensed Crypto Firms Must Exit Overseas Markets by ...
- On June 6, 2025, Singapore’s financial regulator announced that digital token service providers catering exclusively to clients outside Singapore must either secure a license or discontinue their operations by June 30, 2025.
- MAS introduced this rule to close gaps in anti-money laundering and terrorism financing controls that arise when services target only overseas customers.
- Under the new framework, Singapore-incorporated entities offering digital payment or capital market tokens overseas must comply or suspend services, while utility and governance token providers remain exempt.
- MAS indicated that, according to the information they have, only a minimal number of such providers exist and cautioned that breaches of the regulations could result in penalties of up to S$250,000 in fines or imprisonment for as long as three years.
- The regulatory tightening reflects Singapore's intent to protect its financial system and aligns with global efforts, forcing crypto firms to adapt, restructure, or exit offshore operations by June 30, 2025.
19 Articles
19 Articles
MAS clarifies regulatory regime for digital token service providers
The Monetary Authority of Singapore (MAS) has on last Friday clarified the applicable scope for its digital token service providers (DTSPs) regime. The regulator said in a statement that it issued on May 30, 2025 its response to feedback received on the Consultation Paper on Proposed Regulatory Approach, Regulations, Notices and Guidelines for DTSPs under the Financial Services and Markets Act 2022, and it would like to provide clarification on …
Singapore Blocks Access to Octa and XM Trading Platforms From 20 June Over License Violations
If you use TikTok often, you’d have come across some TikTokers promoting Octa, a trading platform. Well, if you’ve used it, do read on. OCTA and XM Face Singapore Block Over License Violations Singapore authorities announced the blocking of two overseas online trading platforms on Friday (6 Jun). The Singapore Police Force and Monetary Authority of Singapore issued a joint statement targeting Octa and XM for regulatory breaches. Both platforms o…
Singapore's MAS Policy Consistencies & Clarifying the Clear
The MAS is forcing many Singapore-based Digital Token Service Providers (DTSPs) to get a license by June 30th or cease serving a wide range of clients. And while both the news coverage of the announcement and policy statement are accessible this column is going to dig a bit further in to what is happening here. An additional short statement released by the MAS is both accessible and remarkably clear.Some of this is speculation. But – and this is…
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