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BTCC / BTCC Square / Global Cryptocurrency /
Singapore Imposes Strict Licensing Requirements for Crypto Firms with Severe Penalties

Singapore Imposes Strict Licensing Requirements for Crypto Firms with Severe Penalties

Author:
Global Cryptocurrency
Published:
2025-06-24 11:02:02
10
2
BTCCSquare news:

Singapore's Monetary Authority (MAS) has escalated regulatory scrutiny on digital asset service providers, mandating strict compliance or cessation of overseas operations by June 2025. Unlicensed firms risk fines up to $200,000 and three-year prison terms under the Financial Services and Markets Act.

The policy leaves no transitional grace period, requiring immediate adherence to anti-money laundering standards. Licensed entities under existing financial statutes are exempt, but all others must secure a Digital Token Service Provider license—a MOVE signaling Singapore's tightening grip on crypto's wild west reputation.

|Square

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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