Is crypto allowed in Singapore? In January, Singapore passed the Payment Services (Amendment) Act 2021. It has yet to take effect but when it does, certain activities relating to cryptocurrencies, including the transmission of cryptocurrencies, brokerage services for cryptocurrencies and custodial services for cryptocurrencies, will be regulated.
Is crypto taxed in Singapore? Income Tax
The purchase of cryptocurrencies will not trigger a taxable event in Singapore. However, the intention at the point of purchase would be considered to determine the tax treatment of gains/losses from the subsequent disposal of the cryptocurrencies.
Which crypto wallet is allowed in Singapore?
|Name||Wallet Type||Supported Cryptocurrencies|
|Ledger Nano S Plus Wallet||Hardware wallet||BTC, XRP, ETH, BCH, EOS, XLM, LTC, DOT, BNB, USDT & 5,000+ more|
|Atomic Wallet||Desktop wallet||BTC, LTC, ETH, TRX, DGB, QTUM, XLM, ZEC, XRP, BCH and 150+ more|
How do I sell crypto in Singapore?
- Find a platform that has a SGD trading pair with your cryptocurrency.
- Send your cryptocurrency to that exchange.
- Make a sell trade on the platform you’ve chosen.
- Withdraw your SGD to your Xfers or bank account.