Nothing new, and since Singapore is one crypto hub not just in Asia, they will have at some point in time regulate digital payment token (DPT) service providers. So that includes crypto exchange whether local or international. The good thing about Singaporean government is that they are really strict on implementing their laws. If no one is aware of or has not been in Singapore, is it a "fine city".
Meaning even throwing a gum is prohibited or smoking on public places. And if you are caught, you are going to pay a hefty fine and you are lucky if you will not get any jail sentence even if you are a foreigner.