🟣 Singapore Tightens Crypto Regulations to Combat Money Laundering
The Monetary Authority of Singapore (MAS), according to Foresight News, announced new plans to tighten oversight of digital currency transactions aimed at combating financial crimes, particularly money laundering and financing illegal activities.
Among the most notable steps are:
Significantly raising the standards and requirements for licensing Digital Token Service Providers (DTSP).
Emphasizing that obtaining a license will become exceedingly rare.
Additionally, the MAS had issued its final regulatory policy document on May 30, 2025, which requires all crypto service providers to cease offering services to customers outside Singapore by June 30, 2025, unless they obtain an official DTSP license.
🚫 There is no transition period, and any entity that violates the instructions will face direct legal penalties.
🔍 This move reflects Singapore's intention to reduce regulatory risks and enhance its position as a trusted financial hub.
