Singapore MAS releases final regulatory response document for DTSP, implementing DTSP related provisions by the end of the month The Monetary Authority of Singapore (MAS) has recently released its final response to regulatory inquiries regarding digital token service providers (DTSP) under Part 9 of the Financial Services and Markets Act 2022. MAS confirms that DTSP related provisions will be officially implemented on June 30, 2025, clarifying that all entities established or operated in Singapore but specifically providing digital token services overseas must obtain a DTSP license, otherwise it will be illegal. MAS reiterates that there will be no transition period and licenses will only be issued in "extremely limited" circumstances. It also stipulates an annual fee of SGD 10000 and a minimum capital requirement of SGD 250000, and strengthens regulatory standards such as anti money laundering, cybersecurity, and technology risk management.