Singapore Tightens Regulations on Crypto Firms – New Licensing Deadline Imposed

The Monetary Authority of Singapore (MAS) has announced new rules for companies offering digital token services in the country, requiring them to obtain a license from the regulator by June 30th, 2025. This regulation applies to all firms operating within Singapore’s borders, regardless of their target customer base. The MAS intends to bolster security and trust by enforcing strict guidelines on operations to mitigate risks associated with digital token services such as hacking and money laundering.