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Crypto Regulation in Singapore

Crypto Friendly

Singapore maintains a well-defined regulatory framework under the Payment Services Act (PSA). MAS actively licenses crypto service providers while encouraging innovation through regulatory sandboxes.

Region: Asia PacificCurrency: SGDAdoption Rank: #8Risk Score: 12/100

Tax Information

Capital Gains (Personal)
0% – no capital gains tax in Singapore
Capital Gains (Corporate)
0% on capital gains; trading income taxed at 17% corporate rate if crypto is revenue in nature
VAT on Crypto
No
Staking Tax
Staking rewards may be taxed as income if received in the course of a trade
Airdrop Tax
Generally not taxed unless received as part of a trade or business
Mining Tax
Income from mining taxed as business income at 17% corporate rate
Summary
Singapore does not levy capital gains tax. Crypto gains from long-term investment are tax-free for individuals. However, if IRAS determines the activity constitutes a trade, profits are subject to income tax. GST on crypto transactions was removed in 2020.

Licensing & Registration

License Required
Yes
Regulator
MAS (Monetary Authority of Singapore)
Framework
Payment Services Act 2019 (amended 2025)
License Types
Major Payment Institution (MPI), Standard Payment Institution (SPI), Digital Payment Token Service
Estimated Cost (USD)
$50,000 - $250,000
Timeline
6-18 months
Ease of Licensing
Hard
Notes
MAS has become increasingly stringent in licensing. Only a limited number of MPI licenses have been granted for Digital Payment Token (DPT) services. Applicants must demonstrate robust AML/CFT controls, cybersecurity measures, and customer protection frameworks. Retail marketing restrictions apply.

AML / KYC

KYC Required
Yes
Travel Rule
Yes
FATF Member
Yes
FATF Status
Compliant
Suspicious Activity Reporting
Yes

Mining

Mining Legal
Yes
Status
Legal
Electricity Cost ($/kWh)
$0.15
Renewable Energy
3%
Climate
Tropical
Infrastructure
Excellent
Tax on Mining Income
17% corporate tax on mining income

DeFi, Stablecoins & NFTs

DeFi: unclearStablecoins: specific frameworkNFTs: unclearCBDC: pilot

Soken Services

Legal Opinion
Available | $2,000 - $8,000 | 7 days
Banking
Difficulty: Medium | Crypto-friendly banks: DBS Digital Exchange, Sygnum Singapore
Min. Deposit
$25,000
Fiat Rails
SWIFT, Local ACH
Card Payments
Visa, Mastercard
Company Registration
$5,000 | 14 days | Private Limited Company (Pte Ltd)
Licensing Support
Available | $15,000 - $50,000

Sources

Monetary Authority of Singapore
Reviewed: 2026-03-15verified

Frequently Asked Questions

Is crypto legal in Singapore?
Cryptocurrency is currently classified as "Crypto Friendly" in Singapore. Singapore maintains a well-defined regulatory framework under the Payment Services Act (PSA). MAS actively licenses crypto service providers while encouraging innovation through regulatory sandboxes.
What is the crypto tax rate in Singapore?
In Singapore, the personal capital gains tax on crypto is 0% – no capital gains tax in Singapore, and the corporate tax rate is 0% on capital gains; trading income taxed at 17% corporate rate if crypto is revenue in nature. Singapore does not levy capital gains tax. Crypto gains from long-term investment are tax-free for individuals. However, if IRAS determines the activity constitutes a trade, profits are subject to income tax. GST on crypto transactions was removed in 2020.
Do I need a crypto license in Singapore?
Yes, a crypto license is required in Singapore. The regulator is Monetary Authority of Singapore under Payment Services Act 2019 (amended 2025). Estimated licensing cost: $50,000 - $250,000.
Is crypto mining legal in Singapore?
Yes, crypto mining is legal in Singapore. Electricity costs approximately $0.15/kWh. Mining income is taxed at: 17% corporate tax on mining income.
What are the AML/KYC requirements for crypto in Singapore?
Yes, crypto businesses in Singapore must comply with KYC (Know Your Customer) requirements. The FATF Travel Rule is implemented. FATF compliance status: compliant.