Is Bitcoin Legal in Singapore: 2025 Updates

Understanding Bitcoin Legality in Singapore

In 2025, Bitcoin and other cryptocurrencies are legal in Singapore for trading, holding, and investment purposes. Under local law, these digital assets are classified as Digital Payment Tokens (DPTs) and regulated by the Monetary Authority of Singapore (MAS). The MAS governs the cryptocurrency sector through key legislation such as the Payment Services Act (PSA) and the Financial Services and Markets Act (FSMA). These frameworks ensure that DPT service providers, including crypto exchanges and wallet operators, meet strict anti-money laundering (AML) and counter-terrorism financing (CFT) requirements.

By choosing a MAS-licensed platform like Moomoo SG, investors can engage with selected cryptocurrencies, including Bitcoin and multi-assets in one platform securely, while benefiting from strong consumer protection measures. As the first MAS-licensed online brokerage in Singapore, Moomoo SG offers a compliant and seamless platform to buy, sell, and manage cryptocurrencies, including Bitcoin, within a safe regulatory environment.

Who regulates cryptocurrency in Singapore?

The Monetary Authority of Singapore (MAS) is the primary regulator overseeing cryptocurrency activities, classified as digital payment tokens (DPTs), including Bitcoin. MAS oversees licensing, compliance, and consumer protection under the Payment Services Act (PSA) and Financial Services and Markets Act (FSMA). The PSA provides a comprehensive framework for regulating crypto exchanges, wallets, and other DPT service providers, ensuring compliance with anti-money laundering (AML) and counter-terrorism financing (CFT) standards.

Key Crypto Regulations by the MAS 2025

In 2025, MAS has tightened oversight to enhance consumer protection and financial stability:

Crypto Licensing Requirements: Under the PSA, All DPT service providers (e.g., crypto exchanges, wallets, or payment services) must obtain a Standard Payment Institution (SPI) or Major Payment Institution (MPI) license, depending on transaction volume.

• SPI License: For providers with lower transaction volumes (e.g. SGD 3 million monthly transactions for any payment services (other than e-money account issuance and money-changing services) or SGD 6 million monthly transactions for 2 or more payment services (other than e-money account issuance and money-changing services).

• MPI License: For providers exceeding these thresholds, requiring higher capital reserves (SGD 250,000 vs. SGD 100,000 for SPI) and a SGD 200,000 security deposit for larger operations.

Overseas Operations: By June 30, 2025, Singapore-registered crypto firms serving overseas clients must be licensed under the Financial Services and Markets Act (FSMA) or cease operations.

Consumer Safeguards: MAS bans locally issued credit cards for crypto purchases and prohibits promotional incentives like airdrops for retail investors.

Travel Rule: Virtual Asset Service Providers (VASPs) must share originator and beneficiary information to enhance transparency and traceability for transactions above SGD 1,500 to combat money laundering.

Asset Segregation: MAS mandates that customer assets be held in trust, separate from company funds, to protect investors in case of insolvency.

AML/CFT Controls: Providers must implement robust Know Your Customer (KYC) processes, transaction monitoring, and report suspicious activities to combat money laundering and terrorism financing.

Risk Disclosures and Investor Education: MAS requires providers to inform customers about crypto risks, such as market volatility and scams, and promote financial literacy.

Read More: Crypto Mining in Singapore: How it Affects Crypto Price

Crypto Licensing Requirements in Singapore

To legally offer crypto services, companies must hold either a Standard Payment Institution (SPI) or Major Payment Institution (MPI) license license under the Payment Services Act. As of 2025, Moomoo SG stands out as the only MAS-licensed online brokerage in Singapore for crypto trading, holding an MPI license from MAS. This ensures full compliance with local regulations, offering investors a trusted platform for secure crypto transactions.

Generally, cryptocurrency businesses in Singapore must comply with strict MAS licensing requirements:

Company Registration: Must be a Singapore-incorporated company with a local office and at least one Singapore citizen or Permanent Resident as a director.

Capital Requirements: Minimum base capital of SGD 100,000 for SPI or SGD 250,000 for MPI.

Security Deposit: MPI licensees handling high transaction volumes (above SGD 6 million) require a SGD 200,000 deposit.

AML/CFT Compliance: Robust KYC processes and suspicious transaction reporting are mandatory.

Bitcoin in Singapore: Who's Affected by DPT Services?

DPT services impact:

1. Individuals: Retail investors trading Bitcoin in Singapore for personal investment.

2. Businesses: Companies offering crypto exchanges, wallets, or payment services.

3. Overseas Firms: Singapore-registered entities serving foreign clients must comply with FSMA by June 30, 2025.Exemptions apply to limited-purpose DPTs like loyalty points or in-game assets, which are unregulated under the PSA.

In other words, these providers must be licensed by MAS to deliver DPT services.

How to Buy and Use Bitcoin in Singapore Legally

In Singapore, the interest in Bitcoin has been on the rise, and for those looking to engage with it legally, knowing the right steps is crucial. How to buy bitcoin in Singapore?

Choosing MAS-Licensed Platforms

Always select platforms regulated by MAS for safety and compliance. Moomoo SG stands out:

1. as the first and only online broker licensed by the Monetary Authority of Singapore (MAS) to offer crypto trading services in Singapore with over 1 million users

2. With $0 commission* on crypto, US/SG stocks, ETFs, secure trust accounts held with a licensed bank, and an intuitive mobile app, it has an all-in-one app to trade or manage crypto spot currencies, stock, options, ETF and more.

3. Hassle free deposits and withdrawals. No wallet setup is needed to invest or trade. Enjoy fast and seamless SGD or USD transfers to and from local banks with $0 fees

4. 24 hours personalised support, anytime you need it with our dedicated customer service team every trading day. Connect with us online, in-app, or via phone.

1. Weekdays: 24 hours

2. Weekends: 9:30 AM - 9:30 PM SGT

Opening a Crypto Account

Opening a crypto trading account with Moomoo SG with 3 easy steps:

1. Download the moomoo app from App Store or Google Play. For existing users, please remember to update the app to the latest version.

2. Register with your Singpass or complete the online application by providing your personal details, such as your name, NRIC, and contact information

3. Complete identity verification through the Know Your Customer (KYC) process, which typically takes minutes or click HERE to activate your crypto trading account. Currently, Moomoo SG supports crypto account activation for eligible investors only.

Deposit Funds

Moomoo SG simplifies funding:

• No Wallet Setup Needed: Trade directly without managing crypto wallets.

• Fast Transfers: Enjoy zero-fee SGD or USD transfers to and from local banks for quick deposits and withdrawals via PayNow, FAST bank transfers

In the app, Go to "Accounts" > "Deposit" > Select crypto account > Select preferred currency > Select transfer method > Start deposit process.

You can also transfer funds into your crypto account.

Go to "Accounts" > Select your crypto account > "Transfers" > Select your preferred currency > Enter Amount.

Start Exploring

Moomoo SG allows you to start trading crypto in 3 ways after getting your account funded:

• Spot Trading: Buy and sell Bitcoin like BTC/USD and BTC/SGD and other cryptocurrencies.

• Crypto-related ETFs and Stocks: Diversify with crypto-related equities and exchange-traded funds for indirect investment on cryptocurrencies

• Crypto-related Futures: Trade crypto futures with level 2 data, all within the Moomoo SG platform.

In the moomoo app, go to the crypto trading section, search for your preferred coins, and specify the amount you wish to buy. After completing the deposit steps, return to the detailed quotes page and click on "Trade" again.

Alternatively, you may go to your crypto account> Click on "Trade"> Enter the cryptocurrency symbol to start trading.

Read More: Crypto Trading vs Stock Trading

Risks and Protections for Singapore Investors

While trading Bitcoin in Singapore is legal, it remains a high-risk investment due to the volatile nature of crypto assets. Sharp price swings can lead to significant gains or losses in a short period. Additionally, the decentralized structure of Bitcoin makes it a common target for online scams, phishing attacks, and crypto exchange hacks.

To protect retail investors, MAS has implemented several safeguards. DPT service providers must ensure asset segregation, keeping client funds separate from company funds. They are also required to maintain robust KYC/AML frameworks and comply with daily reconciliation and risk disclosure standards. High-risk practices such as leveraged trading or speculative promotions, including airdrops, are banned to reduce potential losses among retail investors.

Choosing MAS-regulated platforms like Moomoo SG allows investors to access secure storage solutions, 24/5 support, and real-time market updates, significantly lowering the risk of fraud or service failure.

Market Volatility and Scam Prevention

Crypto markets are highly volatile, especially Bitcoin prices can swing significantly in short periods. To mitigate risks:

• Avoid Scams: Stick to MAS-licensed platforms like Moomoo SG and beware of unsolicited offers, fake giveaways or phishing airdrops.

• Use Regulated Platforms Only: MAS does not allow the use of leverage or credit facilities for retail crypto trading.

• Stay Informed: Regularly review MAS advisories on crypto risk warnings, and stay updated on security alerts and evolving regulations.

Secure Storage Solutions

MAS mandates DPT providers to segregate customer assets from company funds. Moomoo SG ensures:

• Safe Custody: Customer funds and cryptocurrencies are held in segregated trust accounts with a licensed bank, providing robust protection against risks.

• Daily Reconciliation: Balances are verified daily for transparency.

Future of Bitcoin in Singapore

Singapore aims to remain a global fintech hub, balancing innovation with regulation. MAS's Project Ubin explores blockchain for cross-border payments, signaling long-term support for crypto technologies. Singapore continues to support innovation with responsible regulation. With MAS tightening consumer protections and compliance standards in 2025, the focus is now on:

• Institutional adoption

• Tokenized assets and digital securities

• Interoperability and cross-border crypto regulations

Read More: Top 7 Bitcoin Cash Trading Strategies in Singapore

FAQs on Bitcoin Trading in Singapore

Can I Sell Bitcoin in Singapore?

Yes, selling Bitcoin is legal on MAS-licensed platforms like Moomoo SG. If you sell, you need to ensure transactions comply with AML/CFT requirements.

Can I Buy Bitcoin from Moomoo SG?

Yes, you can buy bitcoin from MAS-licensed platforms like Moomoo SG that offer Bitcoin trading alongside other cryptocurrencies, ETFs, stocks, options and more, via its all-in-one trading platform.

Is Bitcoin Mining Legal in Singapore?

Bitcoin mining is legal but not widely practiced due to high electricity costs and environmental concerns. Bitcoin mining is not specifically regulated in Singapore. However, if miners conduct activities that fall under the Payment Services Act—such as transmitting or exchanging digital payment tokens—they may be subject to licensing requirements by the Monetary Authority of Singapore (MAS).

While the government supports blockchain innovation, the government does not incentivise mining due to energy limitations when high electricity costs and environmental concerns can make large-scale mining less viable.

What is the AML Crypto Regulation in Singapore?

In Singapore, anti-money laundering (AML) regulations for cryptocurrency service providers are governed under the Financial Services and Markets Act (FSMA) and the Payment Services Act (PSA), both enforced by the Monetary Authority of Singapore (MAS). Under these regulations, all digital payment token (DPT) platforms are required to conduct robust Know Your Customer (KYC) and AML checks, including customer due diligence and transaction monitoring. They must also report any suspicious transactions and comply with the Travel Rule, which mandates the exchange of originator and beneficiary information for certain crypto transfers. These measures are designed to detect and prevent illicit activities such as money laundering and terrorism financing. Moomoo SG strictly adheres to these MAS and FSMA standards, ensuring a secure and compliant environment for all users engaging in crypto transactions.

Why Choose Moomoo SG?

Moomoo SG is your trusted partner for crypto services:

• $0 Commissions*: Trade without commission fees, maximizing potential returns.

• MAS Compliance: Fully licensed as an MPI, ensuring regulatory adherence.

• One-Stop Trading: Access crypto, stocks, ETFs, and futures on a single, intuitive platform. Join Moomoo SG today for a secure, seamless, and compliant crypto trading experience.

Conclusion

Bitcoin is legal and thriving in Singapore under MAS's robust regulatory framework. With no capital gains tax for individuals and platforms like Moomoo SG offering compliant, user-friendly trading, Singapore is a crypto-friendly hub. Stay safe by choosing MAS-licensed platforms, managing risks, and adhering to tax obligations. Start your Bitcoin journey with Moomoo SG for a secure and diversified investment experience.

*Disclosure

Terms and conditions and other fees apply. Moomoo SG is a Capital Market Service License Holder (as of 1 October 2020) and a Major Payment Institution License Holder for Digital Payment Token Service (as of 1 February 2024).


Cryptocurrency trading is highly volatile and risky. Investments in capital market products involve risk. Full disclaimers at www.moomoo.com/sg/support/topic5_510. This advertisement has not been reviewed by the Monetary Authority of Singapore.