Cobo Vice President of Custody: Singapore releases regulatory guidelines for cryptocurrency service providers, relevant regulations will take effect on June 30th

BlockBeats News: On June 5th, Alex Zuo, Vice President of Custody at Cobo, announced that Singapore's MAS has released the final guidelines for the DTSP regulatory framework under the Financial Services and Markets Act (FSMA), which will come into effect on June 30, 2025. Non compliant DTSPs must immediately cease operations. DTSP refers to institutions in Singapore that provide token trading, transfer, custody, and other services to overseas clients. However, those who hold PSA/SFA/FAA licenses or are exempted do not need to apply for a new DTSP license and still need to meet new obligations, such as stricter technical risk management, annual audits, and reporting major security incidents within one hour. MAS emphasizes a shift from "whether licensed" to "whether compliant" and implements tiered regulation of stablecoins.