BlockBeats News, June 30. Previously, the Monetary Authority of Singapore (MAS) announced that the scope of the regulatory regime for Digital Token Service Providers (DTSPs) has been clarified. Starting from June 30, 2025, DTSPs that only provide digital payment token and capital markets products token services to overseas clients will need to be licensed. MAS stated that the licensing criteria will be set at a high bar, and licenses are generally not expected to be issued. The announcement noted that providers who have already offered digital payment token or capital markets products token services to Singaporean clients are already regulated under existing regulations, and these licensed providers can also serve overseas clients. Providers that only offer utility and governance token-related services are not subject to the new regulatory regime.
On June 12, Singaporean regulators issued a final warning urging major cryptocurrency exchanges operating in the country without a local license to exit promptly.
What impact will the new regulations have on the cryptocurrency industry? BlockBeats had previously conducted an in-depth discussion on the topic around "The End of Web3 Paradise? How Will Singapore's DTSP Act Affect the Ecosystem?" with guests, which is available for review.
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