The post Singapore Tightens Crypto Rules: Bitget, Bybit Plan Exit Amid Crackdown appeared first on Coinpedia Fintech News
Singapore is tightening its grip on crypto firms operating without a license, and the impact is already being felt across the industry. On May 30, the Monetary Authority of Singapore (MAS) issued a final notice requiring unlicensed digital asset exchanges with operations in Singapore and overseas clients to shut down by June 30, according to a Bloomberg report.
With no grace period and strict limitations on new licenses, some of the largest offshore players—including Bitget and Bybit—are now preparing to exit the country and relocate staff to more crypto-friendly hubs like Dubai and Hong Kong.
Exit or Comply: The Pressure Builds
MAS’s firm stance targets firms that run front-office functions such as sales or client services from Singapore while serving foreign users. Though the regulation affects only a “minimal” number of companies, according
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