According to Bloomberg, due to the ultimatum issued by the Monetary Authority of Singapore (MAS) on May 30, requiring unlicensed cryptocurrency companies operating in Singapore but providing services overseas to cease operations by June 30, Bitget and unlicensed exchanges like Bybit are considering withdrawing from Singapore and relocating employees to places like Dubai and Hong Kong. MAS stated that there will be no grace period and the issuance of new licenses will be extremely limited, affecting Singapore companies with front office functions or those serving overseas clients. ChainArgos's legal counsel Patrick Tan described this move as 'almost tantamount to a withdrawal,' as the industry is still intensively assessing compliance risks.