Singapore Tightens Controls: Crypto Firms Face Deadline to Halt Overseas Operations

Singapore’s Monetary Authority of Singapore (MAS) has issued a strict new directive impacting local crypto firms. All businesses registered in Singapore must halt overseas transactions by June 30, 2025. Violators face significant penalties, including fines of up to $200,000 and the potential for jail time. This move aims to strengthen MAS’s regulatory oversight within a rapidly evolving digital asset sector.