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  • MAS Finalises Regulatory Framework for Digital Token Service Providers under the Financial Services

Authors: Peiying Chua Heikes, Evan Lam

MAS Finalises Regulatory Framework for Digital Token Service Providers under the Financial Services

In October 2024, the MAS issued a consultation outlining, among other matters, its proposed regulatory approach towards the licensing of digital token service providers under the Financial Services and Markets Act 2022. The MAS has since released its responses to feedback received in May 2025. The DTSP licensing regime and accompanying provisions came into force on 30 June 2025.