-- The biggest industry hot topic recently concerning cryptocurrency practitioners is the regulatory policy change for the Web3 cryptocurrency industry by the Monetary Authority of Singapore (MAS) in early June 2025. Starting from June 30th this year, all cryptocurrency service providers registered or operating in Singapore must cease providing services to overseas customers if they have not obtained a Digital Token Service Provider (DTSP) license. The implementation of this new regulation marks a more stringent and standardized stage in Singapore's regulation of the cryptocurrency industry. AstralX has already met the stringent crypto regulation in Singapore, positioning itself as the safest global exchange for digital asset trading.
1. The Transformation of Web3 Regulatory Policies in Singapore.
As early as 2019, Singapore passed the Payment Services Act (PSA), which clarified the legal status of digital payment token (DPT) services and provided a clear licensing path for cryptocurrency exchanges and wallet services. During this period, Singapore attracted a large number of virtual currency and Web3 companies to settle in with its relaxed policies, stable legal system, and open innovation environment, becoming a popular "base" for the global cryptocurrency industry.
But with the rapid expansion of the industry, some potential risks are gradually exposed. In 2022, Three Arrows Capital (3AC) "exploded" in Singapore, followed by the collapse of FTX, which brought enormous pressure to Singapore's financial management. In order to protect the country's reputation and financial stability, Singapore's regulatory authorities have begun to strengthen supervision of cryptocurrency service providers, introducing stricter Financial Services and Markets Act (FSM) and clarifying restrictions on retail investment. So, in the middle of this year, the Monetary Authority of Singapore (MAS) issued new regulatory policies in response.
2. The Importance of License and Regulatory Compliance.
The policy changes of the Monetary Authority of Singapore towards the Web3 cryptocurrency industry highlight the importance of licensing and regulatory compliance in the field of cryptocurrency tokens. Compliance is not only a basic requirement for the legal operation of enterprises, but also a key factor in winning the trust of investors, ensuring market stability, and promoting the healthy development of the industry.
A compliant license system helps to screen out enterprises with stable operating capabilities and good reputation, protecting investors from illegal activities and harmful enterprises. Meanwhile, strict regulatory requirements can encourage companies to enhance their risk management capabilities, strengthen internal controls and compliance management, thereby reducing potential financial risks.
3. Top CEX accelerates compliance process, AstralX leads global compliance trend.
Against the backdrop of stricter regulatory policies for the Web3 cryptocurrency industry in Singapore, compliance licenses have become a key competitive advantage for cryptocurrency trading platforms. The top CEX platforms have made progress in license acquisition:
Binance has obtained licenses from the French AMF, Bahrain Central Bank, Dubai VARA, and other places in the past two years, and obtained regulatory approvals from countries such as Germany, Australia, Japan, and the United Kingdom in 2024. Binance has also appointed former Singaporean regulator Richard Teng as the new CEO to strengthen regional operational capabilities.
OKX announced on September 2, 2024 that its Singapore entity OKX SG has obtained a Major Payment Institution (MPI) license issued by the Monetary Authority of Singapore (MAS) to provide digital payment tokens and cross-border remittance services.
Coinbase obtained Singapore's MPI license on October 2, 2023, after previously obtaining virtual asset licenses in Hong Kong.
AstralX also performs well in compliance operations, actively embracing regulatory policies around the world, holding numerous authoritative financial licenses including the US MSB Currency Services License, the UK Financial Supervisory Authority's full license, FSA Investment Trading License, VAULT Electronic Banking EU EMI Payment License, Poland KNF encrypted currency trading license, etc. It also holds Class 1 (securities trading), Class 2 (futures trading), Class 4 (securities consulting), Class 5 (futures consulting), Class 9 (asset management) licenses issued by the Hong Kong Securities and Futures Commission, as well as the Hong Kong TCSP Trust Services License. This reflects AstralX's firm determination and unremitting efforts in compliance, enabling it to conduct business legally and securely worldwide, standing at the forefront of the industry together with leading platforms, and providing users with higher quality and reliable cryptocurrency trading services.
4. AstralX's Compliance Advantage and Brand Value.
The compliance advantage of AstralX is not only reflected in its abundant license resources, but also in its strict compliance and enforcement of regulatory requirements. During the operation of the platform, relevant laws and regulations are always followed to ensure that every transaction can withstand global regulatory scrutiny. This provides users with a secure and legal trading environment, enhancing investors' trust in the platform.
AstralX's compliance regulatory system covers various aspects from fund custody, transaction execution to data protection, providing comprehensive protection for users' assets. The platform adopts advanced encryption technology to ensure the confidentiality and integrity of user information. At the same time, through strict risk management systems, real-time monitoring and analysis of trading activities are carried out to promptly identify and prevent potential financial risks.
AstralX's global perspective and compliance first strategy enable it to operate steadily in markets across different countries and regions. The platform's business network covers the world, with branches in multiple financial centers including New York, London, Paris, Dubai, Tokyo, Kuala Lumpur, Singapore, Hong Kong, etc., and maintains good communication and cooperation with local regulatory agencies.
This global compliance layout enables AstralX to integrate the resources and advantages of global financial markets, providing users with real-time and efficient financial services. No matter where users are, they can easily participate in global digital token trading and seize rich investment opportunities through the AstralX platform.
5. Conclusion.
The policy changes of the Monetary Authority of Singapore towards the Web3 encryption industry are a microcosm of the gradual clarification and tightening of global cryptocurrency regulation. In this context, AstralX has become a reliable choice for investors in the cryptocurrency market due to its compliance regulations and licensing advantages in multiple countries and regions worldwide, as well as its firm commitment to compliant operations.
AstralX not only focuses on the compliance development of the platform itself, but also actively promotes the standardization process of the entire industry. By providing high-quality, secure, and reliable financial services, AstralX has made a positive contribution to building a healthy and sustainable global digital finance ecosystem. Choosing AstralX means choosing to work alongside a compliant and steadily developing platform, safely and confidently embarking on a new journey of wealth growth in the world of cryptocurrency.
Contact Info:
Name: Planet X
Email: Send Email
Organization: AstralX
Website: https://www.astralx.com
Disclaimer:
This press release is for informational purposes only. Information verification has been done to the best of our ability. Still, due to the speculative nature of the blockchain (cryptocurrency, NFT, mining, etc.) sector as a whole, complete accuracy cannot always be guaranteed.
You are advised to conduct your own research and exercise caution. Investments in these fields are inherently risky and should be approached with due diligence.
Release ID: 89165312
In the event of detecting errors, concerns, or irregularities in the content shared in this press release that require attention or if there is a need for a press release takedown, we kindly request that you inform us promptly by contacting error@releasecontact.com (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team will promptly address your feedback within 8 hours and take necessary actions to resolve any identified issues diligently or guide you through the removal process. Providing accurate and dependable information is our utmost priority.
