Singapore has taken significant steps to tighten its grip on the cryptocurrency sector through a series of regulatory measures aimed at enhancing user protection and combating money laundering. The Monetary Authority of Singapore (@MAS_sg) has introduced licensing requirements for entities offering crypto custodial services, a move that stems from legislation passed in 2021 but only enacted recently. Additionally, the country has expanded regulations for digital payment token service providers and tightened anti-money laundering rules for crypto players. In a notable development, GSR Markets has been awarded a major payment institution license, marking a rare instance in the digital-asset sector where a liquidity provider has been officially recognized and permitted to operate. This license allows GSR to engage in the buying and selling of digital payment tokens under Singapore's Digital Payment Token Service framework. The license was reported by @thesamreynolds and highlights the involvement of @GSR_io in this significant regulatory step.