On June 30, 2025, Singapore's Monetary Authority (MAS) implemented strict regulations for cryptocurrency exchanges, targeting money laundering and market confidence. (Source: FT.com) Digital Token Service Providers (DTSPs) serving overseas clients must now obtain a license or cease operations.
Major crypto firms like Bitget and Bybit are considering relocating to Hong Kong and Dubai due to these regulations. Non-compliant firms face penalties, including fines up to SGD 250,000 (USD 200,000) and up to three years imprisonment.
As of June 30, 2025, Bitcoin (BTC) is trading at USD 108,189.00, with Ethereum (ETH) at USD 2,499.79. These regulations reflect a global trend towards tightening crypto regulations to prevent illicit activities.