MAS Sets Hard June 30 Deadline for Unlicensed Crypto Firms Serving Overseas Clients

Singapore’s Monetary Authority has drawn a line in the sand for cryptocurrency operators. By June 30, 2025, all digital token service providers must either secure a license or cease serving overseas clients. The regulator’s stance is uncompromising—no transition period, no exceptions.

The mandate targets any Singapore-based entity offering digital token services abroad without a Digital Token Service Provider license under the Financial Services and Markets Act 2022. Friday’s policy paper leaves no ambiguity: non-compliant firms face immediate suspension.

This crackdown stems from an October 2024 consultation that defined DTSPs as individuals or corporations operating from Singapore while servicing foreign clients. With licensing opportunities scarce, the industry faces a reckoning—one that could reshape Singapore’s crypto landscape.