Is crypto legal in Singapore? How MAS regulates it

Yes, crypto is legal in Singapore, but it's tightly regulated. Here's what MAS requires of crypto platforms and what that means for you.

Yes. Buying, selling and holding cryptocurrency is legal in Singapore. But it's one of the most tightly regulated crypto markets in the world, and the Monetary Authority of Singapore (MAS) has been clear that it doesn't want ordinary people speculating with money they can't afford to lose.

Who regulates crypto in Singapore?

MAS. Under the Payment Services Act, companies that let people in Singapore buy, sell or store crypto (which MAS calls "digital payment tokens") must be licensed. You can check any company on the MAS Financial Institutions Directory.

What licensed platforms must do to protect you

MAS has added a set of consumer protection rules for retail customers. Licensed platforms must:

• Check you understand the risks before you can trade, usually through a short risk awareness assessment.
• Not offer incentives to retail customers, such as sign-up bonuses or referral rewards for trading.
• Not let you buy with local credit cards, and not offer retail customers credit or leverage.
• Keep customers' assets separate from the company's own and safeguard them properly.

MAS also restricts crypto advertising aimed at the general public, which is why you don't see crypto ads on MRT trains or bus stops in Singapore.

Crypto firms serving only overseas customers

Since 30 June 2025, Singapore-based firms that provide digital token services only to customers overseas generally need a licence too, and MAS has said it will grant these only in very limited cases. In practice, many such firms have had to leave Singapore.

Stablecoins

Singapore also has a framework for stablecoins pegged to the Singapore dollar or a G10 currency and issued in Singapore. Those that meet all of MAS's requirements can use the label "MAS-regulated stablecoin". More in our guide to stablecoins.

What regulation does and doesn't mean

Regulation protects you from some things: platforms disappearing with customer money, misleading sales tactics, being pushed into leverage. It doesn't protect you from price risk. If the price of a coin falls, MAS can't help you recover the loss, even on a licensed platform. And crypto transfers can't be reversed.

Is crypto taxed?

Singapore has no capital gains tax for individuals, but there are exceptions. See how crypto is taxed in Singapore.

This guide is general information, not legal advice. Rules change, so check MAS's website for the latest.

General market information for education only, not financial advice. Crypto-assets are highly volatile; never risk money you can’t afford to lose.