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Singapore confirms near-ban on foreign-only digital token services

cryptoweekly by cryptoweekly
June 6, 2025
in bitcoin, News
0

The Monetary Authority of Singapore has effectively banned most crypto firms from serving only foreign clients by requiring a license, which it says it will “generally not issue.”

The Monetary Authority of Singapore (MAS) has shed light on its Digital Token Service Providers (DTSPs) regime, following widespread panic in the industry over a potential ban on crypto firms serving overseas clients

In a June 6 announcement, MAS reiterated that starting June 30, crypto firms “providing services solely to customers outside of Singapore relating to digital payment tokens and tokens of capital market products will need to be licensed.”

However, the regulator warned that such licenses will be granted only in “extremely limited circumstances.”

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Recent Posts
  • Singapore confirms near-ban on foreign-only digital token services
  • Moonbirds NFT sales surge after Yuga Labs sells IP
  • Why FIFA is building its own blockchain, and what it means for 5 billion fans
  • Russia moves to relax crypto mining bans on tax revenue concerns
  • Dogecoin price risks 66% drop to $0.06 as Trump-Musk feud intensifies
  • UK FCA proposes lifting ban on crypto ETNs for retail investors
  • QRAMP protocol, explained: Can Bitcoin’s 21-million cap survive the future?

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