In Singapore, new requirements for Digital Token Service Providers (DTSP) will come into effect on June 30, 2025. According to the legislation, all companies providing cryptocurrency services must obtain the appropriate license or cease operations within the country.
This is reported by Business • Media
New Rules for Crypto Services in Singapore
The Parliament of Singapore has approved provisions of the Financial Services and Markets Act, developed by the Monetary Authority of Singapore (MAS). Importantly, there is no transitional period for implementing the new rules. The final version of the regulations was published on May 30, 2025, and covers all companies registered in Singapore, as well as those providing crypto services abroad, if they have a “place of business” in the country.
The regulations apply not only to large exchanges and DeFi platforms but also to independent developers, influencers, and project leaders. MAS clarifies that a “place of business” means any location in Singapore where services are provided — this can include both physical offices and mobile booths or coworking spaces.
Regulatory Features for Remote Work and Exceptions
The law firm Baker McKenzie raised the question of whether working from home violates the law. MAS emphasized that:
“If a person works for an employer registered abroad and performs work solely within the scope of employment obligations, a license is not required. However, if the work is conducted from a coworking space or partner offices — that poses a risk of violation.”
The new rules prohibit any activities related to digital tokens from within Singapore without the appropriate license. The exception only applies to working from home, but even here, certain “gray areas” remain. Founders, employees of partner offices, sales staff, and directors conducting meetings in Singapore are subject to regulation.
As of June 2025, only 33 companies have obtained licenses, including market players such as Coinbase, Circle, DBS Vickers, FOMO Pay, OKX, Upbit, and others.
It is worth noting that in 2024, Singapore topped the ranking of countries for the level of cryptocurrency adoption.