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Reading: Singapore’s MAS Cracks Down on Crypto Firms, Halts Overseas Operations
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Singapore crypto Crackdown
PhotoNews Pakistan > Tech > Singapore’s MAS Cracks Down on Crypto Firms, Halts Overseas Operations
Tech

Singapore’s MAS Cracks Down on Crypto Firms, Halts Overseas Operations

Web Desk
By Web Desk Published June 4, 2025 3 Min Read
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Photo Credit: KYC Hub
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On May 30, 2025, the Monetary Authority of Singapore (MAS) announced stringent regulations for Digital Token Service Providers (DTSPs), directing crypto firms to cease overseas operations by June 30 as part of the Singapore crypto crackdown. The move aims to curb unlicensed activities and enhance control over the crypto sector, as reported by Reuters.

The Monetary Authority of Singapore (MAS) has established a four-week deadline for Digital Token Service Providers (DTSPs) to stop their international services, with no transitional arrangements allowed. Firms must obtain licenses in Singapore before they can expand their operations abroad, as mandated by the Financial Services and Markets Act 2022 (FSM Act), which takes effect on June 30. Licensed firms will be required to pay an annual fee of $10,000 and undergo mandatory audits. Additionally, they must implement technological solutions to prevent hacking. Non-compliance may result in severe penalties.

🇸🇬 TODAY: Singapore's central bank orders local crypto firms to halt overseas operations by June 30 or face fines up to $200K and potential jail time. pic.twitter.com/IW4oVoZBa0

— Cointelegraph (@Cointelegraph) June 2, 2025

The MAS crypto regulations address concerns over money laundering risks. The license cap and DTSP overseas halt aim to strengthen oversight, but local firms face operational challenges, per Channel NewsAsia.

According to the Financial Times, Singapore’s crackdown follows global regulatory trends, with the U.S. and EU tightening crypto rules. The 2023 MoU between Singapore’s Blockchain Association and India’s Bharat Web3 Association highlights regional collaboration. Sony’s USDC payment option for Singapore customers shows crypto’s local relevance. According to Yahoo Finance, industry players seek dialogue with MAS to mitigate disruptions.

Singapore’s MAS orders unlicensed crypto firms to halt overseas services by June 30 — no grace period granted.

🔗 https://t.co/fURLyhOsSj#Singapore #CryptoRegulation #MAS #DTSP #DigitalAssets

— Cobak (@CobakOfficial) June 3, 2025

The Singapore crypto crackdown reinforces its position as a regulated financial hub, impacting global crypto markets. The MAS crypto regulations and Singapore crypto licenses reshape DTSP operations, balancing innovation with security, drawing international attention to Singapore’s FSM Act 2025 enforcement in the crypto landscape.

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