- MAS enforces licensing for overseas crypto service providers.
- Deadline set for June 30, 2025.
- BTC, ETH may face indirect impacts.
The Monetary Authority of Singapore (MAS) announced that by June 30, 2025, all crypto firms offering overseas services from Singapore must obtain a license or cease operations.
Singapore’s Regulatory Update for Crypto Firms
Singapore’s Monetary Authority has introduced a directive requiring crypto firms to obtain a license to serve overseas clients. The regulation aims to curtail unlicensed operations and comes into effect by June 30, 2025. The decision affects major cryptocurrencies like BTC and ETH, potentially reducing operational flexibility for Singapore-based platforms.
The directive impacts local firms with foreign clientele and international exchanges in Singapore. This regulatory enforcement aligns with a global trend seen in Hong Kong and Dubai to curb “regulatory pinball,” ensuring robust compliance among crypto service providers. Joshua Chu from the Web3 Association highlights the reality that “exchanges playing regulatory loopholes may need to relocate.”
As firms gear up for compliance, the immediate effects on trading volumes and financial activities are still emerging. The potential outflow of capital from Singapore-based exchanges remains under scrutiny, with critical growth links affected by these changes. Compliance may lead to strategic adjustments, with exchanges revising their operational models. The long-term effects could define future regulatory frameworks, as governments worldwide intensify scrutiny of crypto transactions.
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