Singapore Mandates Unlicensed Crypto Firms to Exit Overseas Markets by June 30

Singapore’s central bank has issued a stern directive requiring all domestic cryptocurrency service providers operating without a Digital Token Service Provider (DTSP) license to cease overseas operations by June 30, 2025. The Monetary Authority of Singapore (MAS) emphasized that only firms with formal approval under the Payment Services Act may continue serving international clients.

The MOVE underscores Singapore’s aggressive regulatory stance as it seeks to shield retail investors from potential misconduct. MAS explicitly rejected industry appeals for a transitional period, stating firms had ample notice since initial consultations. Cross-border services without authorization, the regulator warned, create unacceptable risks of unfair practices and financial instability.

This crackdown forms part of Singapore’s broader strategy to balance innovation with consumer protection in its digital asset ecosystem. The city-state continues positioning itself as a regulated hub for cryptocurrency activity, even as it tightens oversight of offshore operations.