Singapore: Call authority prohibits local crypto companies without DSP license overseas transactions by mid-2025

Singapore: Call authority prohibits local crypto companies without DSP license overseas transactions by mid-2025

Singapore: Mas indicates crypto company to stop overseas until 2025

The Singapore (MAS) monetary authority has given an important instruction to all local crypto companies. Companies that have no digital token service provider (DTSP) license are required to no longer make overseas settings by June 30, 2025. These measures are part of the regulatory guidelines that aim to create clarity and security in the crypto sector.

The decision of the MAS illustrates the endeavor of the authority to ensure compliance with the applicable regulations and to create a stable framework for the development of the cryptom market in Singapore. Through these steps, the MAS would like to ensure that all crypto companies have the necessary licenses and lead their operation in accordance with the existing regulations.

The introduction of such measures shows the commitment of the monetary authority to protect the integrity of the financial market and to minimize potential risks associated with the trade and management of cryptocurrencies. It remains to be seen how the companies concerned will react to this instruction and what effects they will have on the development of the crypto sector in Singapore.