According to Odaily Planet Daily, the Monetary Authority of Singapore announced last month that after June 30, digital token service providers serving only overseas customers must obtain a license to operate in Singapore, or they must shut down their platforms. On June 30, the authority added that it has raised the threshold for issuing licenses and will generally not issue such licenses. The statement pointed out that there is a high risk of money laundering in this type of business model, and if a large number of regulated activities take place outside Singapore, the Monetary Authority of Singapore cannot effectively supervise them.