How to Legally Launch Your Crypto Exchange Software in Singapore?

 


Table of Contents

Introduction

Singapore’s Monetary Authority of Singapore (MAS) just ramped up its crypto exchange regulations, separating the serious platforms from the wannabees. This was aimed at curbing money laundering following a series of high-profile scandals. The crackdown was so hard that many major exchanges operating from the mainland, offering services overseas, had to relocate operations to Panama, Hong Kong, or the UAE, given their favorable regulatory environments. 

The MAS issued a mandate, requiring all Singaporean entities offering digital asset-related services globally to secure a Digital Token Service Provider (DTSP) license under FSMA (Financial Services and Market Act 2022) or withdraw operations immediately. The directive leaves zero room for interpretation and no grace period; no extensions or transitional arrangements will be considered. Regardless of the scale of overseas operations or revenue fraction, the emerging crypto exchange software solutions have to comply.

Singapore’s Crypto Sandbox note

Why Crypto Exchanges Still Launch in Singapore Despite MAS Regulations?

Despite the MAS mandate of a minimum SGD 250,000 base capital requirement (for partnerships and individuals) that exchanges must maintain as a cash deposit/capital contribution, some crypto giants are not ready to leave the crypto hub. While WazirX relocated to Panama, Bitstamp recently secured a license from MAS to offer crypto services to the Southeast Asian country. But why are crypto exchange development projects still planning their launch in Singapore while other existing exchanges are waiting for the approvals?

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