Gate News bot message, the Monetary Authority of Singapore (MAS) announced that the licensing regime for Digital Token Service Providers (DTSP) under the Financial Services and Markets Act will officially launch on June 30.
The system covers all cryptocurrency service providers "in or from Singapore," involving multiple business areas such as Token issuance, custody, trading, transfer, and node operation. It is worth noting that this system takes effect immediately, without a transition period.
According to regulations, non-licensed institutions must immediately cease related business operations, except for those that have obtained licenses such as PSA; violations constitute illegal operations. Data shows that some projects have begun to migrate to places like Hong Kong, Dubai, and Tokyo.
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The Monetary Authority of Singapore will implement a digital token service license system by the end of June.
Gate News bot message, the Monetary Authority of Singapore (MAS) announced that the licensing regime for Digital Token Service Providers (DTSP) under the Financial Services and Markets Act will officially launch on June 30.
The system covers all cryptocurrency service providers "in or from Singapore," involving multiple business areas such as Token issuance, custody, trading, transfer, and node operation. It is worth noting that this system takes effect immediately, without a transition period.
According to regulations, non-licensed institutions must immediately cease related business operations, except for those that have obtained licenses such as PSA; violations constitute illegal operations. Data shows that some projects have begun to migrate to places like Hong Kong, Dubai, and Tokyo.
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