The Monetary Authority of Singapore (MAS) has implemented strict licensing requirements for all digital asset service providers, regardless of their target market. This regulatory shift marks Singapore's transition from an "open innovation" center to a "prudent governance" framework, forcing Web3 companies to reassess their operational bases.
According to Section 137 of the Financial Services and Markets Act, non-compliant entities will face fines up to 250,000 Singapore dollars and potential criminal liability. The new regulations apply not only to traditional offices but also to shared workspaces and residential addresses used for crypto businesses, taking effect on June 30 with no transition period.
This policy adjustment presents strategic challenges for enterprises previously leveraging Singapore's registration advantages, while also creating new opportunities in the Asian crypto market. The initiative reflects the global trend of strengthening anti-money laundering (AML) and combating the financing of terrorism (CFT) measures in digital asset regulation.
