Odaily Planet Daily News The Monetary Authority of Singapore (MAS) today clarified the scope of application of the Digital Token Service Providers (DTSPs) system. From June 30, 2025, DTSPs that only provide digital payment tokens and capital market product tokens related services to customers outside Singapore must obtain a license. The MAS license issuance standards are high, such businesses have a high risk of money laundering, and the main regulated activities are outside Singapore. MAS is difficult to effectively supervise, and those who are not licensed will stop regulated activities. Providers who provide related services to Singapore customers are already regulated, their business scope remains unchanged, and they can also provide services to overseas customers. Other service providers such as utility tokens and governance tokens are not affected by the new system. In view of the high risk, existing DTSPs that only provide services to overseas customers need to stop such activities when the system takes effect. MAS has continued to convey its position and communicate with those who may be affected since February 2022. The number of such providers is very small.