What's the DPT licence?

Digital Payment Token services license under the Singapore Payment Services Act 2019. It covers buying/selling DPTs, custody, and certain transfer services. MAS has been progressively tightening DPT regulation, with restrictions on retail customer marketing and access to leverage.

Does Singapore have capital gains tax on crypto?

Singapore has no general capital gains tax for individuals. Trading crypto for personal investment purposes does not produce CGT. However, if your crypto activity rises to the level of a trade or business (frequency, scale, intent), profits become taxable as business income.

Are stablecoins regulated specifically?

MAS published a stablecoin regulatory framework with specific requirements for SCS (single-currency stablecoin) issuers, including reserve, redemption, and disclosure rules. USDC and USDT continue to be supported by Singapore-regulated providers, though some products distinguish MAS-regulated stablecoins from others.

Can foreigners and expats use a Singapore-issued crypto card?

Subject to the issuer's KYC requirements. Singapore-resident expats with a local bank account typically have the cleanest path. Foreigners without Singapore residency may face limitations depending on the specific product.

Are there marketing restrictions I should know about?

MAS has restricted public marketing of DPT services to retail consumers — providers cannot use mass-market advertising or public promotions for DPTs in Singapore. This affects how the product reaches you, not your right to use it.

DPT Learn — SG Compliance

Is a Crypto Card Legal in Singapore in 2026?

Q: Is a crypto card legal in Singapore?

Yes. Crypto cards are legal in Singapore when issued through Digital Payment Token (DPT) licensees under the Payment Services Act 2019, working with appropriately authorised payment institutions. MAS maintains a public register of licensed DPT providers.

Yes, crypto cards are legal in Singapore in 2026 under the Monetary Authority of Singapore's Payment Services Act and the DPT licence regime. The framework is mature and tightening on retail-investor protections.

TL;DR

Crypto cards are legal in Singapore in 2026 under the Payment Services Act 2019, with providers operating under MAS-issued Digital Payment Token (DPT) licences. The framework is one of the most mature globally and has been tightening on retail-investor protections — public marketing of DPT services is restricted, and certain product features (leverage, lending) are limited for retail. Singapore has no general personal CGT; profits from crypto trading by individuals are tax-free unless the activity rises to business level. MAS has separately published a regulatory framework for single-currency stablecoins (SCS) with reserve and redemption requirements.

The Singapore Frame

Payment Services Act 2019: The umbrella law covering money-transfer, e-money, and Digital Payment Token services in Singapore. Card-issuance and crypto activities both fall under PSA categories.
MAS DPT Licence: Required for entities providing Digital Payment Token services. License holders must meet AML, technology-risk, and consumer-protection requirements.
Stablecoin Framework: MAS has published a specific framework for Single-Currency Stablecoins (SCS) issued in Singapore, with reserve composition, audit, and redemption rules. Foreign-issued stablecoins (like USDC, USDT) operate under their home regulatory frames; Singapore-regulated providers list them subject to their own diligence.
Retail Marketing Restrictions: Since 2022, providers cannot publicly market DPT services to retail Singapore residents through mass channels.

Tax Treatment

No general capital gains tax for individuals on investment-purpose crypto activity.
Trading-as-business test: If your crypto activity is frequent, large-scale, or intent-driven, IRAS (Inland Revenue Authority of Singapore) may treat it as a trade or business, with profits taxable as income.
Income from staking, yield, mining is generally taxable as income at Singapore rates.
GST treatment: Singapore introduced specific GST rules for digital payment tokens, generally exempting most crypto-to-fiat conversions from GST in line with international approaches.

Singapore Banking and Crypto

The major Singapore banks (DBS, OCBC, UOB) have engaged with crypto in different ways — DBS Digital Exchange operates as a regulated crypto exchange under MAS supervision. Most major banks process transfers to MAS-licensed DPT providers under enhanced monitoring. Smaller banks vary. AML scrutiny on large or frequent crypto-related transfers is meaningful; keep clean records.

Use a regulated crypto card in Singapore

DPT operates a Visa-branded crypto card available in Singapore. Stablecoin balance, DeFi yield, and SGD spending at any merchant.

Global legality matrix · Crypto card tax guide