Singapore Implements New Crypto Regulatory Framework to Enhance Consumer Protection

Singapore’s Monetary Authority (MAS) has unveiled a revised regulatory framework for cryptocurrencies, moving beyond mere anti-speculation measures and towards encouraging blockchain innovation while strengthening consumer protection. The updated approach seeks to mitigate risks associated with digital payment tokens (DPTs). 0% capital gains tax on cryptocurrency investments will remain unchanged. The MAS emphasizes the high-risk nature of DPT trading and cautions against public engagement in this arena.