Monetary Authority of Singapore clarifies the scope of application of DTSPs system

Odaily News The Monetary Authority of Singapore (MAS) today clarified the scope of application of the Digital Token Service Providers (DTSPs) regime. From June 30, 2025, DTSPs that only provide services related to digital payment tokens and capital market product tokens to customers outside Singapore will need to obtain a license. The MAS licensing standards are high, such businesses have a high risk of money laundering, and the main regulated activities are outside Singapore, making it difficult for MAS to effectively supervise. Those who are not licensed will cease regulated activities. Providers who provide related services to Singapore customers are already regulated, their business scope remains unchanged, and they can also provide services to overseas customers. Other service providers such as utility tokens and governance tokens are not affected by the new regime. In view of the high risks, existing DTSPs that only provide services to overseas customers need to cease such activities when the regime takes effect. MAS has continued to convey its position and communicate with those who may be affected since February 2022. The number of such providers is very small.