Singapore Kicking Out Unlicensed Firms is Part of Global Trend

Singapore’s latest order for unlicensed crypto firms to stop serving overseas customers marks the beginning of the end for regulatory loopholes in the blockchain industry.

The May 30 directive from the Monetary Authority of Singapore (MAS) tells crypto firms and individuals offering services abroad to get licensed or get out.

To some in the industry, it may look like Singapore is suddenly turning away from its crypto-friendly stance. But in reality, the city-state has remained consistent in its push for compliance. The move aligns with a global…