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Singapore vs Zambia

Crypto regulation comparison

← Back to map | Singapore | Zambia
Singapore

Singapore

Zambia

Zambia

Legal
No Regulation

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.

Zambia has no comprehensive cryptocurrency legislation. The SEC warns the public about unregulated crypto schemes and evaluates whether specific products qualify as securities. The Bank of Zambia's 2024-2027 Strategic Plan includes developing a crypto and stablecoin regulatory framework. Blockchain-based regulatory testing is underway with the SEC and BoZ.

Tax Type Varies
Tax Type None
Tax Rate 0%-24%
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator MAS (Monetary Authority of Singapore)
Regulator Bank of Zambia, Securities and Exchange Commission
Stablecoin Rules MAS-regulated stablecoin framework (2023); SG-dollar stablecoins must meet reserve and disclosure requirements
Stablecoin Rules No 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
  • SEC warns public against unregulated cryptocurrency schemes
  • Crypto products regulated only if they meet the definition of a security
  • BoZ 2024-2027 Strategic Plan includes crypto and stablecoin regulatory framework
  • Blockchain-based regulatory testing underway with SEC and BoZ
  • Kwacha is sole legal tender for domestic transactions per 2025 Currency Directives
Sources
Sources