BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Singapore Imposes Deadline for Crypto Firms to Cease Overseas Services
Singapore Imposes Deadline for Crypto Firms to Cease Overseas Services
18
1
Singapore's Monetary Authority (MAS) has set a firm deadline of June 30, 2025, for local cryptocurrency firms to halt services to overseas clients unless licensed under the Financial Services and Markets Act of 2022. The regulatory move leaves no room for transition periods, with non-compliance risking severe penalties including fines up to SGD 250,000 and potential imprisonment.
Entities operating under existing financial regulations are exempt, but the majority must secure approvals or face operational shutdowns. The MAS emphasizes that even ancillary token services require licensing, closing loopholes for offshore-focused operations.
By:
Previous
WazirX Rebrands as Zensui After Relocating from Singapore to Panama
Next
Wells Fargo Freed from Fed Growth Cap as Stock Rises 1.24%
