Singapore maintains a crypto-friendly regulatory environment with clear frameworks such as the Payment Services Act 2019 governing digital payment token services.
| Status | crypto_friendly |
| Risk Score | 15/100 (Low Risk) |
| Region | southeast asia |
| Currency | SGD |
| Capital Gains (Personal) | 0% (no CGT) |
| Capital Gains (Corporate) | 17% CIT |
| VAT on Crypto | No |
| Staking Tax | No specific guidance |
| Airdrop Tax | No specific guidance |
No crypto-specific tax guidance available.
| Required | Yes |
| Regulator | MAS |
| Framework | Payment Services Act 2019 (PSA) + Financial Services and Markets Act 2022 (FSMA) |
| Ease | medium |
Licensing under the Payment Services Act requires compliance with AML/KYC and operational standards.
No significant enforcement actions reported; jurisdiction actively encourages crypto business
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | Yes |
| FATF Status | full_member |
| FATF Body | FATF+APG |
| Suspicious-Activity Reporting | Yes |
Status: regulated
DeFi activities fall under existing regulatory frameworks. MAS applies same AML/licensing requirements to DeFi service providers with Singapore presence. October 2024 MAS amendments restrict DPT service providers from facilitating lending and staking of DPT tokens by retail customers. MAS May 2025 consultation response indicates MAS will generally not approve DTSP licenses for entities serving only overseas clients, citing higher ML/TF risks. DeFi not banned but compliance-or-shut-down stance applies.
Status: regulated
MAS finalized a stablecoin regulatory framework on August 15, 2023 for single-currency stablecoins (SCS) pegged to SGD or G10 currencies issued in Singapore. Requirements: 100% backing by high-quality liquid assets, daily MTM, monthly independent checks, annual audits publicly disclosed, redemption at par within 5 business days. Full legislation expected mid-2026. MAS BLOOM initiative (Oct 2025) enables settlement in tokenized bank liabilities and MAS-regulated stablecoins.
Status: no_rules
No specific NFT regulation; generally permitted
| Legal | Yes |
| Electricity Cost | $0.1/kWh |
| Renewable Energy | 18% |
| Infrastructure | excellent |
Singapore has high-quality data center infrastructure and reliable internet connectivity, making it suitable for crypto mining despite relatively higher electricity costs compared to regional peers.
| Stability | very_stable |
| Sanctions | No |
| Corruption Index | 85/100 |
| Banking Access | open |
Singapore offers a stable political environment, strong rule of law, and excellent business infrastructure, making it highly favorable for crypto businesses.
Singapore maintains a crypto-friendly regulatory environment with clear frameworks such as the Payment Services Act 2019 governing digital payment token services.
Singapore Fintech Hub is classified by FATF as: full_member.
Yes, licensing is required for VASPs.
KYC is mandatory for crypto businesses.
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Explore IT Services →Last reviewed: 2026-06-01 · Data source: Soken Crypto Legal Map
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