Core Viewpoint - The Monetary Authority of Singapore (MAS) has established a regulatory framework for digital token service providers (DTSP) operating in Singapore, effective June 30, requiring licenses for those providing services solely to overseas clients [1] Group 1: Regulatory Changes - Starting June 30, DTSPs that operate in Singapore but only offer digital payment tokens and capital market product tokens to overseas clients must obtain a license from MAS [1] - The MAS has identified a high risk of money laundering associated with the business model of these DTSPs, particularly when substantial activities occur outside of Singapore [1] Group 2: Compliance and Enforcement - Failure to obtain the necessary license will result in the blocking of operations for these DTSPs in Singapore [1] - The MAS emphasizes the challenges in effectively regulating activities that take place outside of Singapore, highlighting the need for stringent compliance measures [1]