According to PANews, the Monetary Authority of Singapore (MAS) has released its final response to the regulatory consultation under Part 9 of the Financial Services and Markets Act 2022 concerning Digital Token Service Providers (DTSP). MAS has confirmed that the DTSP-related provisions will be officially implemented on June 30, 2025. The regulations stipulate that all entities established or operating in Singapore, which exclusively offer digital token services to overseas clients, must obtain a DTSP license to avoid legal violations.
MAS emphasized that there will be no transitional period for compliance, and licenses will be granted only under "extremely limited" circumstances. The regulatory framework includes a yearly fee of 10,000 Singapore dollars and a minimum capital requirement of 250,000 Singapore dollars. Additionally, MAS has strengthened standards for anti-money laundering, cybersecurity, and technology risk management.