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Singapore: Monetary authority bans local crypto companies without DTSP license from overseas transactions until mid-2025
Singapore: MAS instructs crypto companies to stop overseas hiring by 2025 The Monetary Authority of Singapore (MAS) has issued an important directive to all local crypto companies. Companies that do not have a Digital Token Service Provider (DTSP) license are required to refrain from hiring overseas until June 30, 2025. These measures are part of regulatory guidelines aimed at providing clarity and security in the crypto sector. The MAS's decision demonstrates the authority's commitment to ensuring compliance with applicable regulations and creating a stable framework for the development of the crypto market in Singapore. Through these steps, MAS wants to ensure that all...
Singapore: Monetary authority bans local crypto companies without DTSP license from overseas transactions until mid-2025
Singapore: MAS orders crypto companies to stop overseas hiring by 2025
The Monetary Authority of Singapore (MAS) has issued an important directive to all local crypto businesses. Companies that do not have a Digital Token Service Provider (DTSP) license are required to refrain from hiring overseas until June 30, 2025. These measures are part of regulatory guidelines aimed at providing clarity and security in the crypto sector.
The MAS's decision demonstrates the authority's commitment to ensuring compliance with applicable regulations and creating a stable framework for the development of the crypto market in Singapore. Through these steps, MAS aims to ensure that all crypto companies have the necessary licenses and conduct their operations in accordance with existing regulations.
The introduction of such measures demonstrates the monetary authority's commitment to protecting the integrity of the financial market and minimizing potential risks associated with trading and managing cryptocurrencies. It remains to be seen how the affected companies will react to this instruction and what impact it will have on the development of the crypto sector in Singapore.