The Monetary Authority of Singapore (MAS) has delivered a clear mandate that all Singapore-based entities offering digital token services to overseas clients must obtain a DTSP licence or halt cross-border operations immediately. As of June 30, 2025, any entity incorporated in Singapore — whether a company, partnership, or individual — that provides digital token services to overseas clients must either: • Obtain a Digital Token Service Provider (DTSP) licence under the Financial Services and Markets (FSM) Act 2022, or • Immediately cease operations involving foreign markets. This directive leaves no room for ... (full story)