Crypto regulation in Singapore
How MAS regulates crypto under the Payment Services Act, the 2025 provider regime, and retail safeguards.
This is general information, not legal, tax, or financial advice. Verify the current rules with a qualified local professional and the official regulator before acting.
Crypto is legal in Singapore and regulated by the Monetary Authority of Singapore (MAS) under the Payment Services Act and the Financial Services and Markets Act. Service providers must be licensed and meet anti money laundering, capital, and consumer protection requirements. Using crypto as an individual is not prohibited.
How crypto is regulated in Singapore
The Monetary Authority of Singapore (MAS) is the central bank and integrated financial regulator. As of January 2026, it regulates crypto mainly through the Payment Services Act, which treats most cryptocurrencies as digital payment tokens and requires firms that deal in or facilitate their exchange to hold a licence. Licence classes range from a money changing licence to a standard payment institution licence and a major payment institution licence, set by the scale of activity.
Licensed providers must meet anti money laundering and countering the financing of terrorism duties, technology risk standards, and minimum capital, along with custody and disclosure obligations. The framework is supervisory and ongoing, not a one time registration, a position that applied as of January 2026.
The 2025 digital token service provider regime
Under the Financial Services and Markets Act 2022, a regime for digital token service providers came into operation on 30 June 2025. It extends licensing to providers based in Singapore that serve only customers outside the country. MAS has said it will generally set a high bar for licensing such firms, because supervising a business whose activity sits abroad is difficult and the money laundering risk is higher. As of January 2026, firms in that position need a licence to continue.
Retail consumer safeguards
MAS has tightened the rules for retail users. As of January 2026, licensed providers may not give incentives to attract retail customers, may not offer credit to fund purchases, and must provide risk disclosures and clear customer asset segregation. The lending and staking of retail customers' tokens is prohibited, while these remain available to institutional and accredited investors. Marketing of digital payment tokens to the public is restricted, including limits on advertising in public spaces.
Tax in brief
This is general information, not tax advice. Singapore has no capital gains tax, so an individual investor's gain is generally not taxed, while trading as a business can be taxed as income by the Inland Revenue Authority of Singapore (IRAS), and digital payment token supplies are GST exempt since 1 January 2020. See the Singapore tax page for detail and confirm your position before filing.
Several platforms are licensed or operate under MAS oversight for Singapore residents, while Binance.com is not licensed to serve Singapore residents and was placed on the MAS Investor Alert List in 2021. The platforms available to Singapore are compared on the page above.
Regulator and sources
- Monetary Authority of Singapore (MAS), Payment Services Act 2019 and the digital payment token licensing regime.
- MAS, Financial Services and Markets Act 2022 regime for digital token service providers, in operation from 30 June 2025.
- MAS, guidelines on the provision of digital payment token services to the public, covering retail safeguards including the ban on retail lending and staking.
- Inland Revenue Authority of Singapore (IRAS), guidance on the income tax treatment of digital tokens and on GST for digital payment tokens.
Sources are named for reference. Always confirm the current position directly with the named regulator or authority before acting.
Frequently asked questions
Which law regulates crypto in Singapore?+
Mainly the Payment Services Act, which treats most cryptocurrencies as digital payment tokens and requires service providers to be licensed by MAS. The Financial Services and Markets Act 2022 added a regime for digital token service providers from 30 June 2025.
Do crypto exchanges need a licence in Singapore?+
Yes. As of January 2026 firms that deal in or facilitate the exchange of digital payment tokens must hold a MAS licence and meet anti money laundering, capital, and consumer protection requirements.
Can retail users stake or lend crypto in Singapore?+
MAS prohibits licensed providers from staking or lending retail customers' tokens, while these remain available to institutional and accredited investors. Individuals may still stake assets they self custody. Confirm the current rules.
What changed on 30 June 2025 in Singapore?+
A regime under the Financial Services and Markets Act 2022 took effect that requires Singapore based providers serving only overseas customers to be licensed, with MAS setting a high bar for approval.
Who is the crypto regulator in Singapore?+
The Monetary Authority of Singapore (MAS) regulates crypto services, and the Inland Revenue Authority of Singapore (IRAS) administers tax.
Rules change. Singapore's crypto rules have been revised repeatedly and continue to tighten. Confirm the current position with MAS and a qualified professional before acting.