Singapore’s MAS Offers Clarity: Most Crypto Firms Exempted from New Regulations

Following concerns about new regulatory measures, the Monetary Authority of Singapore (MAS) has provided reassurance to the cryptocurrency industry. It clarifies that most companies operating in crypto services are not impacted by the latest regulations and do not need to apply for licenses. The MAS highlighted this announcement comes after widespread speculation about the licensing burden imposed on businesses. While the new rules target specific areas like digital payment tokens with higher consumer risk, utility and governance token providers will be exempt.