Singapore Mandates Crypto Firms Halt Overseas Services by June 30

Singapore Mandates Crypto Firms Halt Overseas Services by June 30

Singapore's central bank, the Monetary Authority of Singapore (MAS), has issued a firm directive requiring all Singapore-based Digital Token Service Providers (DTSPs) to terminate their overseas operations by June 30, 2025, unless they obtain a license under the Financial Services and Markets Act 2022 (FSM Act). Non-compliance could result in severe penalties, including fines of up to S$250,000 (approximately $185,000) and imprisonment for up...

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