As of June 30, 2025, any entity incorporated in Singapore — whether a company, partnership, or individual — that provides digital token services to overseas clients must either:
Obtain a Digital Token Service Provider (DTSP) licence under the Financial Services and Markets (FSM) Act 2022, or
Immediately cease operations involving foreign markets.Singapore $200K crypto fine and prison risks
Violating the June 30 deadline is a criminal offense under Singapore law.
Firms that continue operating as DTSPs for overseas clients without a valid licence will be in breach of Section 137 of the FSM Act and face:
Fines of up to SGD 250,000 (approximately USD 200,000), and
Imprisonment for up to three years.
MAS has stressed that these penalties will be applied regardless of the size of the business or the scope of the violation.
This elevates the decision from a business compliance issue to a legal survival question. Either you’re fully licensed, or you’re in violation. Also, because MAS is expected to grant licences only sparingly, citing ongoing AML/CFT concerns, many firms may not qualify. #Binance #Write2Earn #BTC☀
