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Singapore Tightens Crypto Regulations with June 30 Licensing Deadline
Singapore Tightens Crypto Regulations with June 30 Licensing Deadline
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Singapore’s Monetary Authority (MAS) has mandated that all cryptocurrency firms operating overseas from Singapore must obtain a license or cease operations by June 30. The policy, implemented under Section 137 of the Financial Services and Markets Act, targets companies incorporated or staffed in Singapore—even those serving exclusively foreign clients—with no transitional period offered.
The regulator’s move aligns with global efforts to curb financial crime risks in digital asset markets. Firms continuing unlicensed operations after the deadline face legal penalties. This follows recent enforcement actions elsewhere, including Australia’s AUSTRAC sanctions against crypto exchange Cointree for anti-money laundering deficiencies.
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