The Monetary Authority of Singapore (MAS) has clarified the regulatory scope for individuals and entities engaged in digital token activities.
Under the Financial Services and Markets Act (FSMA) 2022, individuals or partnerships operating from a place of business in Singapore – or companies incorporated here – that provide digital token services outside of Singapore will now fall under the new licensing requirements.
However, MAS also noted that work performed by an individual as part of their employment with a foreign-incorporated company, where services are provided outside of Singapore, will not itself trigger a licensing obligation under FSMA 2022.
This clarification highlights the growing emphasis on accountability and compliance in Singapore’s digital assets sector. Businesses and professionals engaged in cross-border digital token services must ensure that they meet MAS requirements, while also distinguishing between company-level obligations and individual employment roles.
At NS Global Consultants Pte. Ltd., we provide corporate secretarial, bookkeeping, compilation, and tax services to help companies operating in Singapore remain fully compliant with evolving financial regulations. Whether you are managing digital token activities locally or abroad, our team can guide you through governance and reporting obligations under Singapore law.
Contact us today to ensure your business is structured and compliant under the FSMA framework.