According to BlockBeats, the Monetary Authority of Singapore (MAS) has clarified the regulatory framework for Digital Token Service Providers (DTSPs). Starting June 30, 2025, DTSPs offering digital payment tokens and capital market product tokens to clients outside Singapore will need to obtain a license. MAS has indicated that the licensing standards will be stringent, and licenses will generally not be granted. Providers already serving Singaporean clients with digital payment tokens or capital market product tokens are regulated under existing laws and can also serve overseas clients. However, providers offering only utility and governance token services are not subject to the new regulations.
On June 12, Singaporean regulators issued a final warning to major cryptocurrency exchanges operating without a local license, urging them to exit the market promptly.
The impact of these new regulations on the cryptocurrency sector remains to be seen. BlockBeats previously hosted a discussion on the topic, "The End of Web3 Paradise? The Impact of Singapore's DTSP Act," which provided insights into the potential consequences of the new regulatory framework.