Singapore Compliance Report

Regulatory Overview

Regulatory Status

Dedicated crypto/VA legislation, licensing regime, active enforcement

Key Regulator(s)

MAS, ACRA, **Accounting and Corporate Regulatory Authority (ACRA), **Proposed Regulatory Framework (November 2022), MAS Finalises Regulatory Framework

Risk Level

low

Primary Legislation

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Travel Rule

Adopted — Threshold: $1,500

Tax Reporting

No capital gains tax; income tax if trading is a business; GST does not apply to DPT-for-fiat exchange. **For Businesses (Companies and Sole Proprietors)**:. **Trading of Digital Tokens**: Profits derived from the trading of digital tokens (e.g., crypto exchanges, mining operations, professional traders) are treated as **taxable income** under the Income Tax Act.. **Holding Digital Tokens as Inventory**: If digital tokens are acquired with the intention of sale, they are treated as inventory, and profits from their disposal are taxable.. **Using Digital Tokens to Pay for Goods/Services**: If a business accepts digital tokens as payment, the value of the goods/services supplied will be recorded based on the market value of the digital tokens at the time of transaction.

Key Facts

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