Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Good Fortune trailer
    Videos

    First Trailer for Aziz Ansari’s Good Fortune, Starring Keanu Reeves

    May 29, 2025 2 Min Read
    Last of Us Season 2
    Videos

    ‘The Last of Us’ Season 2 Premieres Date What to Expect From HBO’s Hit Series

    April 13, 2025 2 Min Read
    Disney Snow White box office
    Videos

    Snow White Teaser Drops: Gal Gadot and Rachel Zegler Shine

    February 22, 2025 1 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Singapore’s MAS Cracks Down on Crypto Firms, Halts Overseas Operations
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
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
Share
Photo Credit: KYC Hub
SHARE

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.

TAGGED:Featured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

burj khalifa

Dubai’s Next Mega-Project Could Surpass Burj Khalifa

Oscar Pistorius

Oscar Pistorius Returns to Competition 12 Years After Reeva Steenkamp’s Murder

Garena Free Fire Max codes

Garena Free Fire Max Redeem Codes: Are They Worth the Hype in 2025?

Sydney Sweeney at Echo Valley Premiere

Sydney Sweeney Stuns at Echo Valley Premiere, Navigates Post-Breakup Journey

Stephen A. Smith

Stephen A. Smith Under Fire for Spreading False Brittney Griner Quote

Post Archives

More Popular from Photonews

Malir Jail Karachi Prisoner Escape
Sindh

Sindh Orders Arrest of Malir Jail Constable in Massive Jailbreak Probe

2 Min Read
K-Electric microsite 2025
Business

K-Electric Launches Microsite for Real-Time Power Status Monitoring

2 Min Read
Chalamet Jenner Knicks PDA
Entertainment

Timothée Chalamet and Kylie Jenner’s Courtside PDA at Knicks Game Sparks Buzz

2 Min Read
Sindh

Malir Jail Break: 45-50 Inmates Escape in Karachi

On June 2, 2025, a major jailbreak occurred at Malir Jail in Karachi, where 45-50 inmates…

June 3, 2025
Tech

Samsung Galaxy S26 to Feature Perplexity AI App in Major 2025 Deal

On June 2, 2025, reports emerged that Samsung is nearing a transformative AI deal with Perplexity,…

June 2, 2025
Sindh

Karachi Faces 32 Mild Earthquakes Since June 1, PMD Links to Landhi Fault Line

On June 6, 2025, Karachi residents experienced their 32nd mild earthquake since June 1 at 8:32…

June 6, 2025
Sports

D Gukesh’s Victory Over Magnus Carlsen Hailed as Pivotal for Indian Chess

On June 2, 2025, Assam Chief Minister Himanta Biswa Sarma celebrated the remarkable victory of world…

June 2, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?