Kyber Network Claims Decentralization Exempts It from Singapore Regs

Kyber Network has made a formal clarification that it and its KyberSwap platform are not regulated by Singapore's Monetary Authority of Singapore (MAS). This statement comes as Singapore's new Digital Token Service Provider framework takes effect on June 30, 2025. The framework requires licensing for Singaporean entities offering digital token services to overseas users.

Kyber Network is incorporated in Singapore, but its protocol argues that incorporation and operation are two different things. The company has stated prominently on its website and FAQ sections that it and KyberSwap are not operated from Singapore and are not regulated or licensed by MAS for token-related services under applicable Singaporean law.

The distinction matters because Singapore's DTSP framework specifically targets entities that are locally based and offer digital token services to overseas users. MAS has already signaled reluctance to grant such licenses, which means any Singapore-domiciled crypto operation that cannot credibly claim to sit outside MAS's jurisdiction is facing a narrow path forward after June 30.