Crypto Compliance Singapore: Rules, Risks, and What You Must Know

When it comes to crypto compliance Singapore, the set of legal and operational rules that crypto businesses must follow under Singapore’s Monetary Authority of Singapore (MAS). Also known as MAS crypto regulation, it’s not optional—it’s the baseline for any exchange, wallet, or trading platform operating in the country. Unlike places where crypto rules are still being written, Singapore has had clear guidelines since 2019, and they’ve only gotten tighter. If you’re running a crypto business here—or even just trading at scale—you need to know what’s required, what’s banned, and what happens if you slip up.

At the heart of this is the VASP Singapore, a licensed entity that provides virtual asset services like trading, custody, or exchange, and must be registered with MAS. Also known as Virtual Asset Service Provider, it’s the legal label every crypto firm here must earn. You can’t just launch a platform and start taking deposits. You need proof of AML controls, segregation of client funds, identity verification for every user, and regular audits. The MAS doesn’t just ask for paperwork—they check if your systems actually work. And if you’re caught bypassing these rules? Fines, license revocation, or even criminal charges. This isn’t theoretical. In 2023, a local exchange was shut down for failing to verify 80% of its users.

Then there’s the AML crypto, the system of tools and processes used to detect and prevent money laundering through digital assets. Also known as anti-money laundering in crypto, it’s not just about checking IDs—it’s about tracking every dollar that moves across chains, wallets, and platforms. Singapore requires real-time transaction monitoring, flagging unusual patterns like rapid transfers between high-risk addresses or mixing services. If your platform can’t do this, you’re not compliant. And it’s not just about local rules—Singapore works with global bodies like the Financial Action Task Force (FATF), so your compliance here affects your ability to operate elsewhere.

What you won’t find in Singapore? Privacy coins like Monero or Zcash. MAS has explicitly warned that these are high-risk and most licensed platforms have banned them. You also won’t find unlicensed DeFi protocols offering high yields—they’re treated as unregulated financial products and are off-limits to retail users. Even token listings require a detailed review: if a coin looks like a security under the Howey Test, it’s blocked. The message is clear: innovation is welcome, but not at the cost of safety or transparency.

For traders, this means fewer shady tokens and less chance of getting caught in a scam. For businesses, it means higher costs and more paperwork—but also legitimacy. Singapore’s crypto scene isn’t the wildest, but it’s one of the most trusted. And that trust is what draws institutional investors, banks, and even global exchanges like Binance and Coinbase to set up regional hubs here.

Below, you’ll find real breakdowns of how compliance works in practice—from what MAS audits look like, to how exchanges handle cross-chain monitoring, to why some platforms got banned for cutting corners. Whether you’re a trader, developer, or business owner, these posts give you the facts you need to stay legal, avoid scams, and understand what’s really happening under the surface in Singapore’s crypto world.