According to Foresight News, the Monetary Authority of Singapore (MAS) clarifies the scope of the Digital Token Service Provider (DTSPs) regime. Starting from June 30, 2025, DTSPs providing digital payment tokens and capital market product tokens only for overseas customers must be licensed. The licensing standards set by MAS are high, as such businesses carry a high risk of money laundering, and the main regulatory activities occur outside of Singapore, making it difficult for MAS to effectively supervise them. Those who do not obtain a license will cease regulated activities.
Providers serving Singapore customers are already regulated, their business scope remains unchanged, and they can provide services to overseas customers. Service providers related to utility tokens and governance tokens are not affected by the new regime. MAS has been consistently communicating its position since February 2022 and engaging with those who may be affected, and the number of such providers is very small.