Singapore Sets June 30 Deadline for Crypto Firms—Violators Risk Jail Time

Singapore’s central bank has issued a final warning: Crypto businesses operating abroad must stop services or obtain licensing by June 30, 2025, or face S$250,000 fines and three-year prison sentences.

The Monetary Authority of Singapore (MAS) confirmed the hard deadline under the FSM Act 2022, rejecting requests for transitional relief.

Even firms with minimal overseas crypto exposure are covered under Section 137, which presumes Singapore-based operations.

The move signals MAS’s firm stance on regulating digital token services, forcing local players to either comply or exit foreign markets entirely.