According to Bloomberg, according to people familiar with the matter, the Singapore regulator has issued a final warning, urging major cryptocurrency trading platforms operating in the country but without a local license to exit quickly. On May 30, the Monetary Authority of Singapore (MAS) announced that crypto companies with entities in Singapore but providing offshore services will be suspended by June 30 without a transition period, and front-office functions such as sales will be subject to restrictions. An MAS spokesperson said this is a continuation of the Financial Services and Markets Act 2022 and only affects a "very small number" of companies. The industry pointed out that the new regulations exposed the ambiguity in the positioning of crypto companies' headquarters. Legal experts said that companies that use the Singapore team to support offshore business but the service definition is unclear may face case review.