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Singapore vs Taiwan

Crypto regulation comparison

← Back to map | Singapore | Taiwan
Singapore

Singapore

Taiwan

Taiwan

Legal
Legal

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.

Taiwan regulates cryptocurrency under FSC guidance. In 2023, the FSC was designated as the primary regulator for virtual assets. VASPs must register and comply with AML regulations. Taiwan has a vibrant crypto community and several compliant exchanges. Crypto income is subject to income tax at progressive rates.

Tax Type Varies
Tax Type Income
Tax Rate 0%-24%
Tax Rate 5-40%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator MAS (Monetary Authority of Singapore)
Regulator FSC (Financial Supervisory Commission)
Stablecoin Rules MAS-regulated stablecoin framework (2023); SG-dollar stablecoins must meet reserve and disclosure requirements
Stablecoin Rules Under FSC guidance; stablecoins treated as virtual assets
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
Key Points
  • FSC designated as primary crypto regulator in 2023
  • VASPs must comply with AML/CFT rules and register with the FSC
  • Self-regulatory guidelines issued for VASP industry (2023-2024)
  • Crypto income taxed at progressive rates (5-40%)
  • Major exchanges include MaiCoin/MAX, BitoEX/BitoPro
Sources
Sources