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Singapore’s Monetary Authority (MAS) has issued a strict directive requiring all digital token service providers (DTSPs) to register by June 30, 2025, or shut down. No exemptions or grace periods will apply, and licenses will be granted only in rare cases. Non-compliance could lead to hefty fines and imprisonment.
- MAS mandates all digital token service providers (DTSPs) to register by June 30, 2025, or halt operations, with no exemptions.
- Licenses require S$250,000 base capital, S$10,000 annual fees, and strict AML/CFT compliance, with approvals being rare.
- Non-compliance risks fines up to S$250,000 and three years’ imprisonment, targeting firms exploiting offshore regulatory gaps.
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