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Peru vs Singapore

Crypto regulation comparison

← Back to map | Peru | Singapore
Peru

Peru

Singapore

Singapore

Legal
Legal

Cryptocurrency is legal in Peru but lacks comprehensive regulation. The SBS (Superintendencia de Banca, Seguros y AFP) oversees AML requirements. Peru has growing crypto adoption, particularly for remittances. Crypto gains are subject to capital gains tax at 5% for the first 5 UIT and at higher rates for larger amounts.

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 Capital gains
Tax Type Varies
Tax Rate 5-30%
Tax Rate 0%-24%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator SBS, SMV, BCRP (Central Reserve Bank of Peru)
Regulator MAS (Monetary Authority of Singapore)
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules MAS-regulated stablecoin framework (2023); SG-dollar stablecoins must meet reserve and disclosure requirements
Key Points
  • No specific crypto legislation; general financial laws apply
  • Capital gains tax applies to crypto profits (5% for securities, up to 30% for other income)
  • SBS requires AML/KYC compliance for entities dealing in crypto
  • Growing crypto adoption for remittances and as a store of value
  • BCRP has warned about crypto risks but not imposed a ban
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