Kyber Network Exempts Itself From MAS Regulation Citing Decentralized Nature
Kyber Network has clarified its regulatory status in Singapore, stating that despite being incorporated locally, it is not subject to regulation by the Monetary Authority of Singapore (MAS). The clarification comes ahead of Singapore's new Digital Token Service Provider (DTSP) framework, which requires licensing for local entities offering digital token services internationally. According to Kyber Network, its decentralized and non-custodial protocol running across multiple blockchains exempts it from MAS regulation.
The DTSP framework is set to take effect on June 30, 2025, and will require licenses for local entities operating in the international market. However, Kyber argues that its decentralized nature means it does not fall under this regulatory umbrella. Since its launch, KyberSwap has processed over $20 billion in trading volume.
The clarification highlights the tension between regulatory efforts and decentralized finance operations. As more projects navigate this space, the question remains whether decentralized protocols will be able to operate outside of traditional regulatory frameworks.