Gate News bot News, the Monetary Authority of Singapore (MAS) has recently finalized a regulatory framework for digital token service providers (DTSP) that operate in Singapore but serve overseas clients. According to the 2022 Financial Services and Markets (FSM) Act, these crypto service companies must now meet stringent licensing requirements, or they must cease operations by June 30, 2025. MAS noted that the cross-border and internet-native nature of the crypto industry exacerbates the risks of Money Laundering and terrorist financing. The regulatory authority emphasized that licenses would only be granted in "extremely limited circumstances," meaning that companies must demonstrate compliance with international standards and not pose a risk to Singapore's reputation. Although industry stakeholders have requested grace periods or transitional arrangements, this was rejected by MAS.