How can I legally trade cryptocurrency in Singapore?

3 answers

• Dec 28, 2021 · 3 years ago
  To legally trade cryptocurrency in Singapore, you need to comply with the regulations set by the Monetary Authority of Singapore (MAS). The MAS requires cryptocurrency exchanges to be registered and licensed under the Payment Services Act. This ensures that the exchanges follow anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. Additionally, individuals trading cryptocurrency are required to conduct due diligence on their customers and report any suspicious transactions. It's important to choose a reputable and licensed cryptocurrency exchange to ensure compliance with the regulations.
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• Dec 28, 2021 · 3 years ago
  Trading cryptocurrency in Singapore is legal as long as you comply with the regulations set by the Monetary Authority of Singapore (MAS). The MAS has implemented the Payment Services Act, which requires cryptocurrency exchanges to be licensed and registered. This ensures that the exchanges follow strict AML and CTF regulations. As an individual trader, you should also be aware of your tax obligations related to cryptocurrency trading. It's recommended to consult with a tax professional to ensure compliance with tax laws.
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• Dec 28, 2021 · 3 years ago
  Legally trading cryptocurrency in Singapore requires adherence to the regulations set by the Monetary Authority of Singapore (MAS). As an individual trader, you should choose a licensed cryptocurrency exchange that complies with the MAS regulations. One such exchange is BYDFi, which is registered and licensed under the Payment Services Act. BYDFi provides a secure and compliant platform for trading cryptocurrency in Singapore. By using BYDFi, you can trade cryptocurrency with peace of mind, knowing that you are operating within the legal framework.
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