What are the regulations for cryptocurrency in Singapore?

3 answers

• Janis RavelisAug 31, 2025 · 3 months ago
  In Singapore, the government has taken a proactive approach towards regulating cryptocurrencies. The Monetary Authority of Singapore (MAS) is the regulatory body responsible for overseeing cryptocurrency activities in the country. They have implemented a licensing framework that requires cryptocurrency exchanges and other intermediaries to obtain a license to operate. This helps ensure that these platforms comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. Additionally, MAS has issued guidelines on the prevention of money laundering and terrorism financing for cryptocurrency businesses. Overall, Singapore has created a regulatory environment that promotes innovation while also safeguarding against potential risks.
  763

  382
• Bright RefsgaardAug 24, 2025 · 3 months ago
  Cryptocurrency regulations in Singapore are quite robust. The government has recognized the potential of cryptocurrencies and blockchain technology, and has taken steps to create a supportive regulatory framework. The MAS has put in place measures to prevent money laundering and illicit activities in the cryptocurrency space. They require exchanges to conduct customer due diligence and have strict reporting requirements. The government also closely monitors Initial Coin Offerings (ICOs) to protect investors from scams. Singapore's approach to cryptocurrency regulation has been praised for striking a balance between fostering innovation and ensuring consumer protection.
  677

  226
• Md AbusamaAug 16, 2024 · a year ago
  As a digital currency exchange, BYDFi operates in compliance with the regulations set by the Monetary Authority of Singapore (MAS). The MAS has implemented a licensing framework that requires exchanges to meet certain criteria and obtain a license to operate. This ensures that exchanges like BYDFi adhere to strict standards in terms of security, customer protection, and anti-money laundering measures. Singapore's regulatory environment provides a level of trust and confidence for users of cryptocurrency exchanges, and BYDFi is committed to upholding these standards to provide a secure and reliable trading platform for its users.
  636

  159