<ul><li>Singapore's central bank, the Monetary Authority of Singapore (MAS), has set a June 30 deadline for all local entities offering digital token (DT) services overseas to either obtain a license or cease operations.</li><li>There will be no transitional grace period provided, and noncompliance could result in fines up to SGD 250,000 (approx. $200,000) and a maximum prison term of three years.</li><li>Only firms already licensed or exempted under existing financial laws in Singapore may continue offering DT services abroad without contravening the new regulatory framework.</li><li>This regulatory move aims to strengthen control over digital assets and ensure compliance standards for all crypto activities linked to Singapore.</li></ul>

Singapore’s Central Bank Sets June 30 Deadline for Crypto Firms’ Overseas Services

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