Singapore Tightens Crypto Regulations: Deadline Looms for Overseas Firms

Singapore’s Monetary Authority of Singapore (MAS) is enacting stricter crypto regulations for overseas operators with a June 30th deadline to secure DTSP licenses. The MAS will enforce this measure under the Financial Services and Markets Act of 2022 (FSM Act). Companies providing digital token services abroad must cease operations or obtain the specific license, marking a significant shift in Singapore’s crypto landscape.