The Monetary Authority of Singapore mandates unlicensed exchanges to cease operations by June 30, prompting firms like Bitget and Bybit to consider relocating staff to more favorable jurisdictions.
The Monetary Authority of Singapore (MAS) has issued a final warning to unlicensed crypto exchanges, mandating them to cease operations by June 30. Bitget and Bybit are reportedly planning to relocate staff to Dubai or Hong Kong in response to the regulatory crackdown. This directive raises concerns about job losses and the future of Singapore as a prominent crypto hub, given recent declines in crypto asset ownership among citizens.
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