Singapore's DTSP Act takes effect today, unlicensed platforms will exit the market

BlockBeats News: On June 30th, the Monetary Authority of Singapore (MAS) announced that it has clarified the scope of the regulatory system for digital token service providers (DTSPs). Starting from June 30, 2025, DTSPs that only provide digital payment tokens and capital market product token services to customers outside of Singapore will need to obtain a license. MAS states that it will set high standards for licensing and typically does not issue licenses. The announcement states that providers who have provided digital payment tokens or capital market product token services to Singaporean customers are now regulated by current regulations, and these licensed providers can also provide services to overseas customers. Providers who only provide practical and governance token related services are not subject to the new regulatory system. On June 12th, Singapore's regulatory authorities issued a final warning urging major cryptocurrency trading platforms operating in the country but not holding local licenses to quickly exit. What impact will the new regulations have on the cryptocurrency industry? Previously, BlockBeats focused on "Is Web3 Heaven Ending? What is the impact of the Singapore DTSP Act? The theme and guests engaged in in-depth dialogue for review.