The Monetary Authority of Singapore (MAS) has issued a regulation requiring crypto firms serving only foreign clients to obtain a license starting June 30, 2025. Licenses will be issued under rare circumstances due to concerns about supervision and money laundering.
As a result of the new regulations, some local firms, such as WazirX, have begun relocating their operations. However, firms dealing with utility and governance tokens will not be affected by these licensing requirements.
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