Token2049 Kicks Off in Singapore: The Impact of New DTSP Regulations
The 2025 season of Token2049 is here, and a major topic of discussion is Singapore's new DTSP (Digital Token Service Provider) compliance policy, which came into effect on June 30.
This new policy is changing the landscape for Web3 projects with teams based in Singapore. Here's a quick breakdown:
Stricter Rules: Web3 teams are now required to hold a DTSP license from the Monetary Authority of Singapore (MAS) for token issuance and other virtual currency services, even if their operations are aimed at international users.
The Fallout: As a result, many Web3 teams and exchanges have already relocated to Dubai, Hong Kong, Thailand, and Malaysia to avoid compliance issues and severe penalties.
Impact on Token2049: This could lead to a decrease in foot traffic for the event, as many attendees who once lived in Singapore now need to travel internationally to attend.
Despite Singapore's traditional stance of following the U.S. towards a more open approach, the reality on the ground is a tightening of regulations. This is evident as even long-term residents with Web3-related businesses are facing visa and citizenship application rejections.
Regardless of the challenges, the community is gathering!
Welcome to Token2049! Welcome to Singapore!
