{"id":29769,"date":"2025-06-02T12:16:57","date_gmt":"2025-06-02T12:16:57","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=29769"},"modified":"2025-06-02T12:16:57","modified_gmt":"2025-06-02T12:16:57","slug":"singapore-sets-30-june-deadline-for-digital-token-service-providers-to-stop-serving-overseas-clients","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=29769","title":{"rendered":"Singapore Sets 30 June Deadline For Digital Token Service Providers To Stop Serving Overseas Clients"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">Singapore is cracking down on the unlicensed Digital Token Service Providers (DTSPs) with a warning: by 30 June 2025 DTSPs should get a license of stop providing services to overseas clients.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">On 30 May 2025, the Monetary Authority of Singapore <a href=\"https:\/\/www.mas.gov.sg\/-\/media\/response-to-feedback-received-from-dtsp-cp.pdf?ref=blockhead.co\" target=\"_blank\" rel=\"nofollow\">published a paper<\/a> that said, \u201cDTSPs which are subject to a licensing requirement under section 137 of the FSM Act must suspend or cease carrying on a business of providing DT services outside Singapore by 30 June 2025.\u201d<\/span><\/p>\n<p>Importantly, the MAS has granted the DTSPs no transition period. Hence, there is no grace period for the companies that miss the deadline.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">SINGAPORE ORDERS CRYPTO FIRMS TO HALT OVERSEAS SERVICES: DETAILS\u2026<\/p>\n<p>\u2013 Singapore\u2019s central bank, the Monetary Authority of Singapore (MAS), has set a hard deadline.<\/p>\n<p>\u2013 All local crypto firms without a Digital Token Service Provider (DTSP) license must stop offering services to\u2026 <a href=\"https:\/\/t.co\/HMcIFQ2U8f\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/HMcIFQ2U8f<\/a><\/p>\n<p>\u2014 BSCN (@BSCNews) <a href=\"https:\/\/twitter.com\/BSCNews\/status\/1929470562751091189?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">June 2, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">Singapore first signalled its intention to strengthen the regulatory framework in October 2024, when it opened public consultations on the licensing requirements for crypto service providers.<\/span><\/p>\n<p><span style=\"font-weight: 400\">By November 2024, the consultations concluded, and the agency moved swiftly to implement new rules. The updated framework now requires all firms offering DPT services- especially those targeting overseas customers \u2013 to obtain the necessary licenses or face sever penalties for non-compliance.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">DISCOVER:\u00a0<\/span><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\"><span data-preserver-spaces=\"true\">20+ Next Crypto to Explode in 2025\u00a0<\/span><\/a><\/strong><\/p>\n<h2>Crypto Industry in Singapore Reacts<\/h2>\n<p><span style=\"font-weight: 400\">The MAS has also warned that only a select number of applicants will be approved, reflecting heightened concerns about financial crime and money laundering.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The crypto industry had reacted strongly to the new rules, with several firms raising concerns about the tight four-week deadline for compliance. The companies argue that there might be insufficient time for companies to adjust theur operations and submit the required documentation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Some industry players proposed alternatives, such as a grace period, temporary exemptions for applicants under review, or a fast-track process for simpler business models.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Singapore flexing those regulatory muscles again. But let&#8217;s be real \u2013 this just pushes innovation elsewhere. Nature of crypto: if you build walls, we build bridges. Or tunnels. Sometimes trebuchets.<\/p>\n<p>\u2014 KOLIN (@kolin_ai) <a href=\"https:\/\/twitter.com\/kolin_ai\/status\/1929470829701865886?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">June 2, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u201cThe stakes are high. Violators face fines up to SGD 250,000 (around $200,000) and up to three years in jail,\u201d noted Netizens.<\/p>\n<p><strong>DISCOVER:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/high-risk-high-reward-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">9+ Best High-Risk, High-Reward Crypto to Buy in June 2025<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<p><span style=\"font-weight: 400\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         Singapore requires all unlicensed Digital Token Service Providers (DTSPs) to get registered by 30 June 2025.<\/li>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         The MAS has also warned that only a select number of applicants will be approved, reflecting heightened concerns about financial crime and money laundering.\u00a0<\/li>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/singapore-sets-30-june-deadline-for-digital-token-service-providers-to-stop-serving-overseas-clients\/\">Singapore Sets 30 June Deadline For Digital Token Service Providers To Stop Serving Overseas Clients<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Singapore is cracking down on the unlicensed Digital Token Service Providers (DTSPs) with a warning: by 30 June 2025 DTSPs should get a license of stop providing services to overseas clients.\u00a0 On 30 May 2025, the Monetary Authority of Singapore published a paper that said, \u201cDTSPs which are subject to a licensing requirement under section [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-29769","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/29769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29769"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/29769\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}