On 30 May 2025, the Monetary Authority of Singapore ("MAS") responded to public feedback on its proposed regulatory framework for Digital Token Service Providers ("DTSPs") under part 9 of the Financial Services and Markets Act 2022 of Singapore ("FSMA") and issued the Guidelines on Licensing for DTSPs.
Of particular interest is that DTSPs that are operating from a place of business in Singapore, or that are formed or incorporated in Singapore, but are carrying on a business of providing digital token services outside Singapore, are now required to apply for a DTSP licence under the FSMA once the regulatory framework for DTSPs come into effect on 30 June 2025.
In this legal update, we examine the key requirements for obtaining the DTSP licence.
Please click on the attachment for more details.