The Monetary Authority of Singapore (MAS) has mandated all crypto firms to obtain licenses by June 2025, aiming to improve consumer protection and prevent money laundering. This new regulation applies to companies operating in Singapore or with personnel there. The deadline necessitates compliance with Section 137 of the Financial Services and Markets Act, impacting firms serving overseas clients from Singapore. While this will increase operational costs for businesses, it’s part of a broader strategy of stricter regulations within Singapore’s financial landscape. Previous MAS enforcement actions led to fewer registered crypto firms and disruptions to services, highlighting a historical trend of regulatory tightening in the region.