Singapore’s 2025 Crypto Landscape: Regulations and Trends
In 2025, Singapore remains to be on the forefront of cryptocurrency, because of its strong regulatory environment. Its digital asset innovation is propelled by a dynamic and forward-thinking approach to regulation, aiming to bolster the principles governing cryptocurrencies.
At present, Singapore is tightening its grip on security and transparency to combat money laundering. The recent regulations are also designed to spice up investor confidence within the crypto market.
Key Developments in Crypto Regulations in Singapore 2025
June 30, 2025 – FMSA Licensing
- According to the Financial Services and Markets Act 2022 (FSMA), all crypto firms in Singapore offering cross-border services must secure a license.
- The Monetary Authority of Singapore (MAS) made it clear that digital token service providers (DTSPs) providing services inside Singapore have to be licensed.
- Non-compliance may lead to penalties, including fines as much as SGD 250,000 and imprisonment for up to 3 years.
June 6, 2025 – MAS Guidelines
- This recent approach, rolling out in June, goals to strengthen safeguards for digital payment token (DPT) service providers, including crypto exchanges, and protect retail investors.
- Consumer protection measures now restrict lending and staking services for retail customers to attenuate risk exposure.
Stablecoin Regulation in 2025
- Stablecoin issuers are required to be regulated under the Payment Services Act for offering “stablecoin issuance services”.
- Only stablecoins that adhere to strict MAS standards, ensuring higher solvency and consumer protection, shall be labeled as “MAS-regulated stablecoin.”
Stricter Marketing and Promotion Rules
- In 2025, the MAS broadened its regulatory updates specializing in investor security in crypto trading.
- The amendment includes measures to guard customer assets, disclose risks to retail customers, and manage conflicts of interest.
Snapshot of Key Regulations in 2025
| AREA | REQUIREMENT/CHANGE |
| Licensing | Mandatory for all DPT providers under PS Act |
| AML/CFT | Enhanced due diligence, monitoring, and reporting |
| Consumer protection | Safeguards of assets, audit functions, and restrictions on retail lending |
| Stablecoins | Regulated issuance, ‘MAS-regulated’ |
| Marketing | Risk disclosure required |
| Taxation | GST exemption |
| Cross-border services | Overseas providers must comply with Singapore’s regulations |
What the Government and Regulators Are Saying
The Monetary Authority of Singapore (MAS), functioning because the country’s central bank and key financial regulator, oversees licensing for businesses coping with “digital payment tokens” like crypto exchanges and digital wallets.
MAS enforces anti-money laundering (AML), counter-terrorist financing (CFT), and KYC standards for crypto investors. It prohibits misleading tactics, protecting users from crypto fraud.
Crypto License in Singapore 2025
- As of June 30, DTSPs need an official MAS-regulated license to operate. Non-licensed activities must stop immediately.
- There aren’t any significant changes to licensed provider operations, and no transition period is provided for service providers.
Crypto Tax 2025 in Singapore
- No Capital Gains Tax: Singapore doesn’t impose capital gains tax on profits from selling or trading cryptocurrencies. Personal investments in crypto are completely tax-free.
- Income Tax: Trading crypto as a business or receiving it as payment for goods or services is subject to plain income tax. This applies to all skilled traders and crypto-related businesses.
- Goods and Services Tax (GST): An 8% GST applies to fees in crypto transactions. However, buying and selling cryptocurrencies themselves are generally exempt from GST. Airdrops, mining, staking, and ICOs are subject to income tax.
- Reporting: Crypto income tax have to be reported annually. The e-filing deadline is April 18, 2025, and for paper filing, it’s April 15, 2025.
Crypto Adoption in 2025
- 29% of Singapore residents have engaged with cryptocurrency, which is a notable drop from 40% in 2024.
- 23% of crypto users in Singapore are optimistic that Bitcoin will exceed $250,000 by 2030. Currently, 28% of investors hold a memecoin.
- There has been no official disclosure on government holdings yet, however the policies are focused on fostering a responsible digital asset ecosystem while mitigating risks.
Summary Table of 2025
| CRITERIA | VALUE IN 2025 |
| Crypto adoption rate (ownership) | 29% |
| Crypto adoption rate in 2024 | 40% |
| Public awareness of crypto | 94% |
| Most popular cryptos (amongst investors) | Bitcoin 68% & Ethereum 48% |
| Investors holding > 1 kind of crypto | 79% |
| Investors confident in mainstream adoption | 57% |
| Singapore’s global crypto ownership rank | 2nd |
| Singapore’s crypto-friendly city rank | 4th |
Conclusion
In 2025, nearly half of crypto users in Singapore exited the market, with 67% seeing substantial profits from their sales. The Singaporean government acknowledges the potential of cryptocurrency and other digital assets but continues to prioritize consumer protection and financial stability. Authorities have consistently advised investors to be cautious when entering into the market.
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