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Singapore vs Vanuatu

Crypto regulation comparison

← Back to map | Singapore | Vanuatu
Singapore

Singapore

Vanuatu

Vanuatu

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.

Vanuatu has become a popular jurisdiction for crypto businesses due to its tax-free environment. The VFSC has developed a regulatory framework for digital assets.

Tax Type Varies
Tax Type No tax
Tax Rate 0%-24%
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator MAS (Monetary Authority of Singapore)
Regulator Vanuatu Financial Services Commission (VFSC)
Stablecoin Rules MAS-regulated stablecoin framework (2023); SG-dollar stablecoins must meet reserve and disclosure requirements
Stablecoin Rules No specific stablecoin regulation
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
  • VFSC regulates digital asset businesses
  • No income, corporate, or capital gains tax
  • Popular jurisdiction for crypto business registration
  • Citizenship by investment program exists
  • Developing digital asset regulatory framework
Sources
Sources