Crypto is legal in Singapore, and any company offering crypto services to people in Singapore must be licensed by the Monetary Authority of Singapore (MAS). Singapore has no capital gains tax, so most individuals who buy and hold crypto as an investment pay no tax on gains. If you trade often enough that it looks like a business, the profits can be taxed as income.
This guide explains the licensing rules, the extra protections MAS requires for retail customers, how IRAS taxes crypto, and where to report scams.
At a glance
| Topic | The short version |
|---|---|
| Regulator | Monetary Authority of Singapore (MAS) |
| Check a platform | MAS Financial Institutions Directory and Investor Alert List |
| Tax on gains | None for long-term investors; trading profits can be income |
| GST | Not charged on crypto since 1 January 2020 |
| Retail protections | Risk check, no bonuses, no leverage, no local credit cards |
| Report a scam | ScamShield Helpline 1799 and a police report |
Who regulates crypto in Singapore
MAS licensing
Under the Payment Services Act, a company that buys, sells or holds crypto for customers in Singapore needs a MAS licence for "digital payment token" services. Before you open an account, look the company up in the MAS Financial Institutions Directory and check the MAS Investor Alert List of firms to avoid.
Licensed providers have included Coinbase Singapore, OKX SG, Crypto.com, Upbit Singapore, Independent Reserve and DBS Vickers. Gemini received its licence in September 2026. Check the directory for the current list, and make sure the company name matches the one in your account's terms.
Firms that only serve overseas customers
Since 30 June 2025, Singapore-based crypto firms that serve only customers outside Singapore also need a MAS licence. MAS said it would grant these licences only in very limited cases, so many such firms closed or moved. A company being "based in Singapore" therefore doesn't mean MAS licenses it to serve you.
Protections for retail customers
MAS requires licensed crypto providers to follow extra rules when dealing with retail customers:
- A risk awareness check before you can trade, to confirm you understand the risks.
- No incentives: no sign-up bonuses, free tokens or rewards for referring friends.
- No borrowing to buy: no leverage, margin or credit to fund crypto purchases.
- No Singapore credit or charge cards to pay for crypto.
MAS also restricts crypto advertising in public places. If a platform offers you a welcome bonus or leveraged crypto trading as a Singapore retail customer, treat it as a warning sign.
How crypto is taxed in Singapore
No tax on capital gains
Singapore doesn't tax capital gains. If you buy crypto as a long-term investment and later sell it at a profit, that gain is generally not taxed.
Trading gains can be income
The Inland Revenue Authority of Singapore (IRAS) looks at your activity as a whole, using what are called the "badges of trade". Things that point towards taxable trading income include:
- buying and selling frequently
- holding for short periods
- buying with borrowed money
- running crypto trading in an organised, business-like way
If IRAS treats your gains as trading income, they're taxed at your normal income tax rate. Crypto you receive as payment for work or services is also taxable income.
GST
Since 1 January 2020, buying, selling or using digital payment tokens like Bitcoin isn't subject to Goods and Services Tax.
For a comparison with other countries, see how crypto is taxed around the world.
How to buy crypto safely in Singapore
- Check the MAS directory for the exact company you'll be dealing with.
- Expect the risk awareness check and no bonuses. These are signs the platform follows MAS rules.
- Use strong security, such as an authenticator app, and never share one-time passwords.
- Move long-term holdings to your own wallet. See our wallet guide.
- Keep records, especially if you trade often, in case IRAS asks how you made your gains.
Our guide to choosing an exchange covers what else to check.
Scams and where to report them
Investment scams and impersonation scams, where someone pretends to be from a bank, a government agency or an exchange, cause large losses in Singapore. If something feels wrong:
- Call the ScamShield Helpline on 1799 for advice.
- Make a police report through the Singapore Police Force's online e-services.
- Contact your bank straight away, as it may be able to stop a payment.
Our scam guide explains the common red flags.
FAQ
Do I pay tax on crypto in Singapore?
Usually not, if you hold crypto as a long-term investment, because Singapore has no capital gains tax. Gains from frequent trading, or crypto received as payment, can be taxed as income.
Why can't I get a sign-up bonus on Singapore crypto platforms?
MAS bans licensed providers from offering incentives such as sign-up bonuses or referral rewards to retail customers.
How do I know if a crypto platform is licensed in Singapore?
Search the MAS Financial Institutions Directory for the platform's company name, and check the MAS Investor Alert List.
Can I use a crypto platform that isn't licensed in Singapore?
Platforms without a MAS licence shouldn't be offering their services in Singapore. If you use one, you don't get the protections MAS requires, such as safeguarding of customer assets, and if something goes wrong you may have little recourse.
Sources: Monetary Authority of Singapore; CMS, Singapore's 30 June deadline for crypto firms serving overseas customers; EY, Key tax considerations when transacting in digital tokens; Blockhead, Gemini wins Singapore licence (September 2026).
This is not financial advice. Crypto is volatile and you can lose money. Do your own research.