This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
Singapore’s Monetary Authority (MAS) has mandated that crypto firms operating overseas from Singapore must obtain a license or cease operations by June 30. The move aims to mitigate financial crime risks and closes regulatory gaps for digital token services. No transitional arrangements will be provided, emphasizing immediate compliance.
- MAS requires crypto firms operating from Singapore for foreign clients to license or shut down by June 30, with no transition period.
- Firms must hold at least SGD 250,000 in capital, re-onboard customers, and comply with FATF Travel Rule and tech risk standards.
- The policy follows global crackdowns, including AUSTRAC's fine on Cointree for delayed money laundering reports.
📎 Related coverage from: decrypt.co
Related Tags: Coinbase Global Inc.
Other Tags: AUSTRAC, Monetary Authority of Singapore (MAS)