Vice President of Cobo Custody: Singapore issues regulatory guidelines for crypto service providers, and relevant regulations will come into effect on June 30
2025-06-05 10:24:24
On June 5th, alexzuo, vice president of custody at Cobo, issued a document saying that Singapore MAS issued the final guidelines on the DTSP regulatory framework under the Financial Services and Markets Act (FSMA). The FSMA will take effect on June 30, 2025. If there is no compliance with the DTSP, the operation will be stopped immediately. DTSP refers to institutions that provide token trading, transfer, custody and other services to overseas customers in Singapore, but those who already hold PSA/SFA/FAA licenses or are exempted do not need to apply for a new DTSP license. They still need to meet new obligations, such as stricter technical risk management, annual audits, and reporting major security incidents within 1 hour. MAS emphasizes the shift from "licensee" to "compliance" and the implementation of tiered regulation of stablecoins.
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