Algorithmic Ratings & Investment Analysis
© ARIA 2025
by aria-ratings.com
June 24, 2025 at 10:51
Crypto Regulation Tightens in Singapore: Unlicensed Firms Face Severe Penalties
The Monetary Authority of Singapore (MAS) has launched a robust crackdown on unlicensed crypto firms offering services overseas.
Digital token service providers (DTSPs) must obtain proper licensing or halt all international operations by June 30, 2025.
Failure to comply will result in fines up to $200,000 and potential imprisonment of up to three years.
This move stems from the Financial Services and Markets Act (FSM Act 2022), which aims to enhance regulatory oversight in the crypto sector.
Existing providers will not benefit from a grace period or phased licensing; the deadline is definitive.
Certain entities already licensed under other financial acts are exempt from these new requirements.
Moreover, only those firms with stringent anti-money laundering (AML) and counter-financing of terrorism (CFT) measures will qualify for the new license.
The MAS's decision aims to eliminate regulatory loopholes that have allowed firms to operate without adequate oversight.
By enforcing these guidelines, Singapore aims to protect its financial reputation and mitigate potential misuse of its crypto-friendly stance.
With this directive, Singapore reinforces the necessity for all crypto operations to adhere to local and international regulations.
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