BlockBeats News, June 5th, Cobo's Vice President of Custody, alexzuo, announced that the Monetary Authority of Singapore (MAS) has issued the final guidelines for the DTSP regulatory framework under the Financial Services and Markets Act (FSMA). The FSMA will take effect on June 30, 2025, and non-compliant DTSPs must immediately cease operations.
DTSP refers to institutions in Singapore that provide token trading, transfers, custody, and other services to overseas customers. Those who already hold a PSA/SFA/FAA license or are exempted are not required to apply for a new DTSP license but must still meet additional obligations, such as stricter technical risk management, annual audits, reporting of major security incidents within 1 hour, and others. MAS emphasizes a shift from "licensed status" to "compliance status" and implements a tiered regulatory approach for stablecoins.
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