Singapore has enacted stricter regulations for crypto firms operating within its borders, leading to significant changes in the industry. The Monetary Authority of Singapore (MAS) is requiring all firms registered in Singapore but serving only overseas clients to obtain a full license or cease operations. This move follows recent high-profile failures like Terraform Labs and Three Arrows Capital (3AC), which exposed regulatory gaps. “, “Bitget and Bybit have already announced their exits from the Singapore market. The MAS has also introduced stricter licensing requirements for foreign-focused crypto firms, requiring them to meet higher standards of compliance and transparency. Industry experts believe these changes are aimed at restoring trust in the industry following significant losses and damage to Singapore’s reputation.