- Providers of digital payment token (DPT) services need a license from the Monetary Authority of Singapore (MAS). Since 30 June 2025 this also applies to providers that serve only customers outside Singapore, and MAS says it will generally not issue such licenses.
- IRAS generally views profits from buying and selling financial instruments, including digital tokens, as personal investments. Whether a profit is taxable depends on the facts, so check the IRAS guide on digital tokens.
- The exchange of digital payment tokens for money or for other tokens is exempt from GST (since 1 January 2020).
- Companies pay corporate income tax at a flat 17%, with partial exemptions on the first part of their income.
- Singapore intends to start exchanging crypto-asset data with partner countries (CARF) from September 2028.
This page covers private individuals and companies that hold, trade or accept crypto in Singapore. It is general information, not legal or tax advice.
Legal status
Singapore regulates the businesses that offer crypto services, mainly through MAS. The Payment Services Act covers digital payment token services. In 2024 MAS widened its scope to include custodial services for tokens and the facilitation of transmitting tokens between accounts and of exchanging them. MAS says these providers must meet requirements on anti-money laundering and countering the financing of terrorism, user protection and financial stability, and must keep customer assets segregated in trust accounts.
Providers serving customers abroad
From 30 June 2025, digital token service providers that operate from Singapore but serve only customers outside Singapore also need a license. MAS has said that it “has set the bar high for licensing and will generally not issue a licence”, citing the higher money-laundering risk and its inability to supervise activity outside Singapore.
Restrictions on marketing to the public
Since 17 January 2022, MAS guidelines say providers should not market or advertise digital payment token services in public areas in Singapore. They may promote their services only on their own corporate websites, mobile apps or official social media accounts, and not through influencers.
Stablecoins
On 1 September 2026 MAS opened a consultation on legislative amendments for a stablecoin framework. It covers single-currency stablecoins pegged to the Singapore dollar or any G10 currency. The consultation closes on 16 October 2026. At the time of writing (October 2026) the amendments are not yet law.
Tax for individuals
Gains and trading
IRAS says that profits or losses from buying and selling shares or other financial instruments, including digital tokens, are generally viewed as personal investments. We did not find an IRAS page that spells out in one place when token trading becomes taxable income. For that, read the IRAS e-Tax Guide on the income tax treatment of digital tokens, which is listed in the sources.
Paid in tokens
According to the IRAS e-Tax Guide, wages paid to an employee in payment tokens are taxable based on the value of the employment services performed, when the income accrues to the employee. If the tokens come with a moratorium, the payment is taxable when the moratorium is lifted.
Mining
For a miner, whether the profit from selling mined payment tokens is taxable depends on whether the mining was done with an intention to profit, according to the same guide.
GST on tokens
Since 1 January 2020, IRAS treats the exchange of digital payment tokens for money or for other digital payment tokens as exempt from GST. Loans of tokens for interest are exempt as well. If you use tokens to pay for goods or services, the use of the token itself is disregarded and GST applies to the goods or services that are supplied.
Staking and airdrops are not covered by the IRAS pages we could read for this guide, so we do not describe them here.
Tax for companies
IRAS taxes companies at a flat rate of 17%. Two exemption schemes reduce the tax on the first part of a company’s income.
| Scheme | Who | Exemption |
|---|---|---|
| Start-up exemption | New qualifying companies, for their first 3 consecutive years of assessment | 75% of the first SGD 100,000 and 50% of the next SGD 100,000 of normal chargeable income, so at most SGD 125,000 per year |
| Partial exemption | Companies from year of assessment 2020 | 75% of the first SGD 10,000 and 50% of the next SGD 190,000, so at most SGD 102,500 per year |
Businesses that exchange tokens treat these exchanges as exempt supplies for GST, and report the net realized gain or loss from the exchanges as exempt supplies. Corporate filing forms, deadlines and any rebates for a given year change, so check the IRAS pages for the year you are filing.
Reporting and filing obligations
Individuals. IRAS says that taxable gains go under “Other Income” in your income tax return, and gains that are not taxable do not have to be declared. For tax season 2026 the e-filing deadline was 18 April, and you can ask for an extension of up to 14 days through the myTax Portal.
CARF. Singapore has committed to implement the OECD Crypto-Asset Reporting Framework and intends to start exchanges with partner jurisdictions from September 2028, according to IRAS. The legislation is Part 20B of the Income Tax Act 1947 and the Income Tax (International Tax Compliance Agreements) (Crypto-Asset Reporting Framework) Regulations 2026. Reporting providers have to register by 31 March and file by 31 May of the following year.
Exchanges and KYC
Exchanges, custodians and transfer services for digital payment tokens need a license under the Payment Services Act. Look the provider up on the MAS register before you use it.
MAS Notice PSN02 sets the anti-money-laundering rules for these providers (last revised on 30 June 2025, with the amendments taking effect on 1 July 2025). It treats all token transfers as cross-border. For a transfer of SGD 1,500 or less, the provider includes the names and account numbers of the sender and the recipient (or a unique transaction reference where no account number exists). For a transfer above SGD 1,500, the provider must also identify the sender and verify the sender’s identity.
Self-custody
We found no official Singapore statement on private or self-hosted wallets. The rules we confirmed apply to service providers, such as segregation of customer assets and the transfer information above, not to people who keep their own tokens. We could not confirm what Notice PSN02 requires when a customer sends tokens to or from a self-hosted wallet.
Sources
- MAS: MAS clarifies regulatory regime for digital token service providers (last checked October 2026)
- MAS: Guidelines on Licensing for DTSPs (last checked October 2026)
- MAS: MAS expands scope of regulated payment services (last checked October 2026)
- MAS: MAS issues guidelines to discourage cryptocurrency trading by general public (last checked October 2026)
- MAS: MAS consults on legislative amendments to implement stablecoin regulatory framework (last checked October 2026)
- MAS: Notice PSN02, Prevention of money laundering and countering the financing of terrorism, digital payment token service (last checked October 2026)
- IRAS: Gains from sale of property, shares and financial instruments (last checked October 2026)
- IRAS: Income Tax Treatment of Digital Tokens (e-Tax Guide) (last checked October 2026)
- IRAS: GST, Digital payment tokens (last checked October 2026)
- IRAS: Corporate income tax rate, rebates and tax exemption schemes (last checked October 2026)
- IRAS: Individuals required to file tax (last checked October 2026)
- IRAS: Crypto-Asset Reporting Framework (CARF), overview and latest developments (last checked October 2026)
This page is general information, not legal or tax advice. Rules and rates change, so check the official sources above before you act.