Cobo Vice President of Custody: Singapore releases regulatory guidelines for cryptocurrency service providers, related regulations will take effect on June 30
ChainCatcher news, Cobo's Vice President of Custody, alexzuo, stated that Singapore's MAS has released the final guidelines for the DTSP regulatory framework under the Financial Services and Markets Act (FSMA), which will take effect on June 30, 2025. Non-compliant DTSPs must cease operations immediately.DTSP refers to institutions in Singapore that provide token trading, transfers, custody, and other services to overseas clients. However, those holding PSA/SFA/FAA licenses or exempted from them do not need to apply for a new DTSP license but must still meet new obligations, such as stricter technology risk management, annual audits, and reporting significant security incidents within one hour. MAS emphasizes the shift from "whether licensed" to "whether compliant" and implements tiered regulation for stablecoins.