BTC $68,303.00 (+0.90%)
ETH $1,985.97 (+1.02%)
XRP $1.44 (+0.74%)
BNB $625.76 (+0.88%)
SOL $86.18 (+2.13%)
TRX $0.29 (+0.71%)
DOGE $0.10 (-1.14%)
BCH $564.89 (+0.72%)
ADA $0.28 (-2.32%)
LEO $8.60 (-1.07%)
HYPE $29.84 (-0.80%)
LINK $8.90 (+0.10%)
CC $0.16 (-0.65%)
XMR $326.75 (-1.92%)
XLM $0.16 (-0.45%)
RAIN $0.01 (-0.59%)
HBAR $0.10 (-0.25%)
ZEC $259.05 (-0.98%)
LTC $55.40 (+0.52%)
AVAX $9.23 (+0.91%)

Malaysia vs Singapore

Crypto regulation comparison

← Back to map | Malaysia | Singapore
Malaysia

Malaysia

Singapore

Singapore

Legal
Legal

Cryptocurrency is legal and regulated in Malaysia. The Securities Commission oversees digital asset exchanges (DAX) and initial exchange offerings under the Capital Markets and Services (Prescription of Securities) Order 2019. Only SC-approved exchanges can operate. Malaysia does not impose capital gains tax on crypto for individuals, though frequent trading may be classified as business income.

Singapore is a leading global crypto hub with a comprehensive regulatory framework under the Payment Services Act (PSA) 2019, amended in 2022. MAS licenses Digital Payment Token (DPT) service providers for AML/KYC compliance and consumer protection. Singapore has no capital gains tax, making it attractive for crypto businesses and investors. However, MAS has progressively tightened retail investor protections, restricting crypto advertising and requiring risk warnings. Short term trading gains is considered income and taxed as such.

Tax Type None
Tax Type Varies
Tax Rate 0%
Tax Rate 0%-24%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator SC (Securities Commission Malaysia), BNM (Bank Negara Malaysia)
Regulator MAS (Monetary Authority of Singapore)
Stablecoin Rules Digital assets on approved exchanges only; stablecoins not separately regulated
Stablecoin Rules MAS-regulated stablecoin framework (2023); SG-dollar stablecoins must meet reserve and disclosure requirements
Key Points
  • Digital asset exchanges must be registered and approved by the Securities Commission
  • Only approved tokens can be listed on registered exchanges (e.g., BTC, ETH, XRP on approved list)
  • No capital gains tax for individuals; frequent trading may be treated as business income
  • BNM regulates crypto for AML/CFT purposes under the Anti-Money Laundering Act
  • IEOs must be conducted through SC-approved platforms
Key Points
  • Payment Services Act (PSA) 2019 provides licensing for Digital Payment Token (DPT) services
  • MAS issues Major Payment Institution (MPI) and Standard Payment Institution (SPI) licenses for crypto
  • No capital gains tax on crypto for individuals; trading profits may be taxed if deemed business income
  • MAS introduced stablecoin regulatory framework in August 2023 for SG$-pegged stablecoins
  • Strict retail investor protection: crypto advertising restricted, no incentives for trading
Sources
Sources