---
type: country
domain: web3-compliance
status: compiled
tags: [Legal, Crypto Tax, Crypto Regulation, Country]
aliases: [Singapore]
created: 2026-05-06
compile_into: ""
source_url: "https://soken.io/crypto-map/countries/singapore.html"
title: "[singapore|Singapore](https://soken.io/crypto-map/countries/singapore|Singapore.html) (SG)  Crypto Regulation | Soken"
description: "Singapore maintains a crypto-friendly regulatory environment with clear frameworks such as the [concept--payment-services-act|Payment Services Act](https://soken.io/kb/crypto-map-countries/concept--payment-services-act|Payment Services Act.md) (PSA) governing crypto activities. The country supports innovation while ensuring complian"
scraped_at: "2026-05-06T09:10:02.281773+00:00"
slug: crypto-map-countries-singapore.html
---


# [singapore|Singapore](https://soken.io/crypto-map/countries/singapore|Singapore.html) (SG)  Crypto Regulation | Soken

---
type: country
domain: crypto-regulation
status: stable
tags: ["crypto-regulation", "asia_pacific", "fatf", "crypto_friendly"]
aliases: ["SG", "SGP", "新加坡"]
created: 2026-05-06
updated: 2026-01-20
compile_into: ["[singapore](https://soken.io/crypto-map/countries/singapore.html)"]
sources:
  - name: "Monetary Authority of Singapore"
    url: "https://www.mas.gov.sg"
    type: "official"
---

# 🇸🇬 [singapore|Singapore](https://soken.io/crypto-map/countries/singapore|Singapore.html) (SG) — Crypto Regulation

> Singapore maintains a crypto-friendly regulatory environment with clear frameworks such as the [concept--payment-services-act|Payment Services Act](https://soken.io/kb/crypto-map-countries/concept--payment-services-act|Payment Services Act.md) (PSA) governing crypto activities. The country supports innovation while ensuring compliance with AML and licensing requirements.

## Overview

| Field | Value |
|-------|-------|
| Status | crypto_friendly |
| Risk Score | 12/100 (Low Risk) |
| Enforcement Level | High |
| Region | [domain--asia-pacific|asia pacific](https://soken.io/kb/crypto-map-countries/domain--asia-pacific|asia pacific.md) |
| Currency | [entity--sgd|SGD](https://soken.io/kb/crypto-map-countries/entity--sgd|SGD.md) |
| Adoption Rank | #8 |

## Tax

| Type | Rate |
|------|------|
| Capital Gains (Personal) | 0% (no capital gains tax) |
| Capital Gains (Corporate) | 0% on capital gains; trading income taxed at 17% corporate rate if crypto is revenue in nature |
| VAT on Crypto | No |
| Mining Tax | Income from mining taxed as business income at 17% corporate rate |
| 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 |

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

| Field | Value |
|-------|-------|
| Required | Yes |
| Regulator | [entity--mas|MAS](https://soken.io/kb/crypto-map-countries/entity--mas|MAS.md) |
| Framework | Payment Services Act (PSA) |
| Ease | medium |
| Cost | $50,000 - $250,000 |
| Timeline | 6-18 months |

Licensing under the PSA requires compliance with AML/KYC and operational standards; the process is structured but not overly burdensome.

## Licensed VASPs

Registry: [MAS Financial Institutions Directory — Major Payment Institution (Digital Payment Token Service)](https://eservices.mas.gov.sg/fid/institution?category=Major+Payment+Institution&activity=Digital+Payment+Token+Service) — total: 38

| Name | License Type | Since |
|------|-------------|-------|
| [Coinbase Singapore Pte Ltd](https://eservices.mas.gov.sg/fid/institution/detail/235467) | Major Payment Institution (Digital Payment Token Service) | N/A |
| [Crypto.com (Foris DAX Asia)](https://eservices.mas.gov.sg/fid/institution/detail/250069) | Major Payment Institution (Digital Payment Token Service) | N/A |
| [Circle Internet Singapore Pte Ltd](https://eservices.mas.gov.sg/fid/institution/detail/412248) | Major Payment Institution (Digital Payment Token Service) | N/A |
| [OKX SG Pte Ltd](https://eservices.mas.gov.sg/fid/institution/detail/422854) | Major Payment Institution (Digital Payment Token Service) | N/A |
| [Independent Reserve SG Pte Ltd](https://eservices.mas.gov.sg/fid/institution/detail/243463) | Major Payment Institution (Digital Payment Token Service) | N/A |
| [DBS Vickers Securities (Singapore) Pte Ltd](https://eservices.mas.gov.sg/fid/institution/detail/447) | Major Payment Institution (Digital Payment Token Service) | N/A |
| [Paxos Digital Singapore Pte Ltd](https://eservices.mas.gov.sg/fid/institution/detail/420524) | Major Payment Institution (Digital Payment Token Service) | N/A |
| [Sygnum Pte Ltd](https://eservices.mas.gov.sg/fid/institution/detail/228260) | Major Payment Institution (Digital Payment Token Service) | N/A |
| [HashKey Technology Services Pte Ltd](https://eservices.mas.gov.sg/fid/institution/detail/422819) | Major Payment Institution (Digital Payment Token Service) | N/A |
| [Upbit Singapore Pte Ltd](https://eservices.mas.gov.sg/fid/institution/detail/420457) | Major Payment Institution (Digital Payment Token Service) | N/A |

## AML / KYC

| Field | Value |
|-------|-------|
| KYC Required | Yes |
| Travel Rule | Yes |
| [concept--fatf|FATF](https://soken.io/kb/crypto-map-countries/concept--fatf|FATF.md) Member | Yes |
| FATF Status | compliant |

## DeFi

**Status:** regulated

DeFi activities are subject to regulatory oversight under the PSA and related guidelines to ensure AML compliance and consumer protection.

## Stablecoins

**Status:** regulated

Stablecoins are regulated under the PSA, requiring issuers to obtain appropriate licenses and comply with AML and consumer protection rules.

## NFTs

**Status:** Unclear

NFTs are not specifically regulated unless they constitute a digital payment token or a capital markets product under the Securities and Futures Act. MAS assesses NFTs on a case-by-case basis.

## Mining

| Field | Value |
|-------|-------|
| Legal | Yes |
| Electricity Cost | $0.148/kWh |
| Renewable Energy | 3% |
| Climate | tropical |
| Infrastructure | excellent |

Mining is legal but limited by high electricity costs and low renewable energy share. Singapore's excellent infrastructure supports data centers but mining is less competitive due to costs.

## Geopolitics

| Field | Value |
|-------|-------|
| Stability | very_stable |
| Sanctions | No |
| Corruption Index | 85/100 |
| Ease of Business | very_easy |
| Internet Freedom | free |
| Banking Access | open |
| Sanctions Programs Active | Yes |

## Enforcement Actions

| Date | Authority | Target | Type | Amount |
|------|-----------|--------|------|--------|
| 2026-03-17 | MAS | [Wang Qiming, Liu Kai](https://www.mas.gov.sg/regulation/enforcement/enforcement-actions/2026/mas-issues-prohibition-orders-against-former-relationship-managers-wang-qiming-and-liu-kai) | cease_and_desist | — |
| 2026-03-09 | MAS+CAD | [Capital Asia Investments Pte Ltd](https://www.mas.gov.sg/regulation/enforcement/enforcement-actions/2026/capital-asia-investments) | other | — |
| 2026-02-04 | MAS | [Jimmy Ling Xiao Ting](https://www.mas.gov.sg/regulation/enforcement/enforcement-actions/2026/mas-issues-prohibition-orders-against-jimmy-ling-xiao-ting) | cease_and_desist | — |
| 2026-01-14 | MAS | [Sun Weiyeh](https://www.mas.gov.sg/regulation/enforcement/enforcement-actions/2026/mas-issues-prohibition-order-against-mr-sun-weiyeh) | cease_and_desist | — |
| 2026-01-05 | MAS | [Eurofin Investments Pte Ltd, Francois Pierre Michel Dotta, Clement Georges Schappler](https://www.mas.gov.sg/regulation/enforcement/enforcement-actions/2026/mas-takes-enforcement-actions-against-eurofin-investments-pte-ltd) | civil_penalty | — |
| 2025-11-17 | MAS | [Ang Yew Jin Eugene](https://www.mas.gov.sg/regulation/enforcement/enforcement-actions/2025/mas-imposes-civil-penalty-on-mr-ang-yew-jin-eugene-for-insider-trading) | civil_penalty | — |
| 2025-10-29 | MAS | [One Heritage Capital Management (SG) Pte Ltd](https://www.mas.gov.sg/regulation/enforcement/enforcement-actions/2025/mas-revokes-the-capital-markets-services-licence-of-one-heritage-capital-management-pte-ltd) | license_revocation | — |
| 2025-10-28 | MAS | [Mr Tang Boon Hai](https://www.mas.gov.sg/regulation/enforcement/enforcement-actions/2025/mas-issues-prohibition-order-against-mr-tang-boon-hai) | cease_and_desist | — |
| 2025-10-23 | MAS | [Benjamin Song Junde, Charn Sze Choong](https://www.mas.gov.sg/regulation/enforcement/enforcement-actions/2025/mas-issues-prohibition-orders-against-two-individuals-convicted-for-insurance-fraud) | cease_and_desist | — |
| 2025-10-15 | MAS+CAD | [Tan Tee Beng](https://www.mas.gov.sg/regulation/enforcement/enforcement-actions/2025/civil-penalty-action-taken-against-tan-tee-beng-for-insider-trading) | civil_penalty | — |

## CBDC

| Field | Value |
|-------|-------|
| Status | pilot |
| Name | Project Ubin+ |
| Authority | Monetary Authority of Singapore |
| Type | wholesale |

---

*Data source: [Soken Crypto Legal Map](https://soken.io/crypto-map/). Last reviewed: 2026-05-06.*

**Sources:**
- [Monetary Authority of Singapore](https://www.mas.gov.sg)


<!-- soken-kb-wikilinks -->
[singapore](https://soken.io/crypto-map/countries/singapore.html) [index](https://soken.io/) [crypto-map](https://soken.io/crypto-map/) [services](https://soken.io/services.html)


<!-- soken-kb-augmented v1 -->
[crypto-map](https://soken.io/crypto-map/)

---

## Translations