According to Foresight News, the Monetary Authority of Singapore (MAS) clarifies the scope of the Digital Token Service Provider (DTSP) regime. Starting from June 30, 2025, DTSPs that provide digital payment tokens and capital markets product tokens only for overseas customers are required to be licensed. The licensing standards set by MAS are high, and there is a high risk of money laundering for such businesses, as the main regulated activities occur outside Singapore, making it difficult for MAS to regulate effectively. Unlicensed entities will cease regulated activities.
Providers serving Singapore customers are already regulated, and their business scope remains unchanged, allowing them to provide services to overseas customers. Service providers related to utility tokens and governance tokens are not affected by the new regime. MAS has been continuously communicating its position since February 2022 and has engaged with those who may be affected; the number of such providers is extremely small.