Singapore Imposes Strict Licensing Requirements on Crypto Firms Operating Abroad

Singapore’s Monetary Authority (MAS) has unveiled stringent new regulations requiring all unlicensed cryptocurrency firms operating overseas to cease operations by June 30. The rules extend to local crypto providers offering digital tokens abroad, with no grace period for compliance.

MAS emphasized enhanced surveillance measures to identify evasion tactics, applying the licensing mandate equally to independent crypto professionals based on their operational ties to Singapore. Only entities already licensed under existing financial statutes—including the Securities and Futures Act and Payment Services Act—are exempt.

"This framework balances innovation with consumer protection," stated MAS, positioning the MOVE as a bid to cultivate a transparent crypto ecosystem. The policy signals Singapore’s tightening grip on cross-border digital asset activities while maintaining its fintech hub ambitions.