Is it necessary to have a license to trade cryptocurrency in Singapore?

3 answers

• May 11, 2022 · 3 years ago
  In Singapore, the Monetary Authority of Singapore (MAS) regulates the trading of cryptocurrencies. As of now, there is no specific license required to trade cryptocurrency in Singapore. However, cryptocurrency exchanges and platforms are required to register with MAS and comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. It is important for traders to ensure they are using a reputable and regulated exchange to protect their investments and comply with the law.
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• May 11, 2022 · 3 years ago
  No, you don't need a license to trade cryptocurrency in Singapore. The government has taken a proactive approach to regulate the industry by implementing measures to prevent money laundering and terrorist financing. However, it is important to note that cryptocurrency exchanges and platforms must register with the Monetary Authority of Singapore (MAS) and comply with their regulations. It is recommended to do thorough research and choose a reputable exchange before trading cryptocurrency in Singapore.
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• May 11, 2022 · 3 years ago
  According to BYDFi, a leading cryptocurrency exchange, there is no specific license required to trade cryptocurrency in Singapore. However, it is important to comply with the regulations set by the Monetary Authority of Singapore (MAS) and ensure that you are using a trusted and regulated exchange. BYDFi recommends conducting thorough research and due diligence before engaging in cryptocurrency trading to protect your investments and ensure compliance with the law.
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