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Deadline Set: Singapore Bans Crypto Service Exports Starting June 30

Local crypto firms in Singapore must stop serving overseas clients with token services by June 30, 2025. The Monetary Authority of Singapore (MAS) made the move clear after listening to feedback on its new rules under the Financial Services and Markets Act of 2022.

Any company, individual or partnership registered in Singapore that offers token services abroad needs to pause or shut down those operations unless it grabs a license in time.

According to MAS, firms that fall under Section 137 of the FSM Act are treated as operating from Singapore, even if most of their work happens overseas.

That means even if token services aren’t your main thing, you still need a license to keep going. No extra time is coming—MAS says they won’t offer any transition period. Acting after June 30, 2025 without proper approval could lead to serious trouble.

Deadline Set: Singapore Bans Crypto Service Exports Starting June 30

Local crypto firms in Singapore must stop serving overseas clients with token services by June 30, 2025. The Monetary Authority of Singapore (MAS) made the move clear after listening to feedback on its new rules under the Financial Services and Markets Act of 2022.

Any company, individual or partnership registered in Singapore that offers token services abroad needs to pause or shut down those operations unless it grabs a license in time.

According to MAS, firms that fall under Section 137 of the FSM Act are treated as operating from Singapore, even if most of their work happens overseas.

That means even if token services aren’t your main thing, you still need a license to keep going. No extra time is coming—MAS says they won’t offer any transition period. Acting after June 30, 2025 without proper approval could lead to serious trouble.

https://bitcoinist.com/deadline-set-singapore-bans-crypto-service-exports-starting-june-30/