Singapore’s Monetary Authority (MAS) has issued a strict deadline for local crypto service providers to stop offering digital token services outside the country. The deadline, set for June 30th, requires these companies to cease operations or obtain a license before then under the Financial Services and Markets Act of 2022 (FSM Act). This move follows industry feedback on the MAS’ proposed regulatory framework for Digital Token Service Providers (DSTPs). The MAS has clarified there will be no transitional arrangements for local DTSPs operating abroad. Any company offering these services outside Singapore must either shut down or obtain a license when the regulation comes into effect at the end of June.