Singapore Cracks Down: Crypto Firms Must Cut Off Overseas Clients by 30 June

Singapore draws a hard line in the sand—digital token service providers have until June 30 to sever ties with non-domestic clients. No more jurisdictional gray areas.

The Monetary Authority of Singapore (MAS) isn’t playing nice. Their message? Operate locally or don’t operate at all. Yet another regulatory squeeze in the ’Wild West’ of crypto—because nothing says ’innovation’ like retroactive compliance deadlines.

One thing’s clear: the era of regulatory arbitrage is ending. Whether this kills offshore speculation or just sends it deeper underground remains to be seen. Either way, compliance costs just went up—happy auditing season, folks.

Crypto Industry in Singapore Reacts

The MAS has also warned that only a select number of applicants will be approved, reflecting heightened concerns about financial crime and money laundering. 

The crypto industry had reacted strongly to the new rules, with several firms raising concerns about the tight four-week deadline for compliance. The companies argue that there might be insufficient time for companies to adjust theur operations and submit the required documentation. 

Some industry players proposed alternatives, such as a grace period, temporary exemptions for applicants under review, or a fast-track process for simpler business models. 

Singapore flexing those regulatory muscles again. But let’s be real – this just pushes innovation elsewhere. Nature of crypto: if you build walls, we build bridges. Or tunnels. Sometimes trebuchets.

— KOLIN (@kolin_ai) June 2, 2025

“The stakes are high. Violators face fines up to SGD 250,000 (around $200,000) and up to three years in jail,” noted Netizens.

Key Takeaways

• Singapore requires all unlicensed Digital Token Service Providers (DTSPs) to get registered by 30 June 2025.

• The MAS has also warned that only a select number of applicants will be approved, reflecting heightened concerns about financial crime and money laundering.