MAS Cracks Down: Singapore Crypto Firms Must Exit Overseas Markets by June 30

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Singapore’s financial regulator has drawn a hard line—local crypto businesses must stop serving overseas customers by June 30 or face severe penalties.

The Monetary Authority of Singapore (MAS) confirmed the deadline in its latest regulatory update, applying the Financial Services and Markets Act (FSM Act) 2022 to digital token service providers (DTSPs).

No grace period will be given. Firms must either shut down foreign operations or secure a license before the cutoff. MAS clarified that even companies with token-related activities as a secondary business fall under the rule.

Failure to comply risks S$250,000 fines and up to three years in jail, reinforcing Singapore’s strict stance on crypto oversight.