Singapore reins in crypto firms serving foreign clients
SINGAPORE -- Singapore's financial regulator on Friday signaled that the days of cryptocurrency companies targeting exclusively foreign clients from the city-state were coming to an end, as authorities tighten their oversight of such companies, concerned that they may act as conduits for dirty money.
The Monetary Authority of Singapore (MAS) said in a statement that Digital Token Service Providers (DTSPs), a category used to classify crypto companies, serving only customers outside the city-state must stop this activity on June 30, unless they have a permit.
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