Singapore has emerged as a global hub for cryptocurrency innovation, combining advanced infrastructure with a tech-savvy population. With evolving regulations and dynamic market conditions, investors must stay informed about the top exchanges operating under Singapore’s strict financial oversight. Below, we explore the legal landscape and rank the best platforms for trading digital assets in 2025.
Singapore’s Cryptocurrency Regulatory Framework
Known as a "cryptocurrency paradise," Singapore maintains an open yet regulated approach to digital finance. Key developments include:
- Payment Services Act (PSA): Enforced since January 2020, this law mandates that all Digital Payment Token (DPT) service providers, including exchanges, register and obtain licenses from the Monetary Authority of Singapore (MAS).
- Strict Oversight: Many overseas-based crypto firms must secure MAS approval, even if they serve only foreign clients. By mid-2023, over 100 companies had failed licensing applications.
- Leverage Ban: Starting in 2024, MAS prohibited margin trading to curb retail speculation. Exceptions include Bitstamp, Coinbase Singapore, Gemini, and a few others holding full licenses.
👉 Discover MAS-licensed platforms
Top MAS-Licensed Cryptocurrency Exchanges in Singapore
Independent Reserve
- First MAS-licensed exchange with DBS Vickers partnership.
- Services: Account issuance, cross-border transfers, and DPT trading.
- Available in 30+ countries.
CoinHako
- Local Singaporean platform offering wallet and exchange services.
- Licensed since May 2022.
Coinbase Pro
- U.S.-based giant with MPI license (October 2023).
- Features: Institutional-grade security, staking, and DeFi integration.
Crypto.com
- Offers Visa cards, NFTs, and derivatives trading.
- MPI licensee since June 2023.
Blockchain.com
- British-origin platform with MPI license (October 2022).
- Focus: Wallet services and institutional solutions.
Bitstamp
- Europe’s oldest exchange, granted MAS approval in 2024.
2025 Singapore Crypto Exchange Rankings
| Rank | Exchange | Key Features | MAS Licensed |
|---|---|---|---|
| 1 | Coinbase Pro | High liquidity, staking options | Yes |
| 2 | Bitstamp | Low fees, EU-focused | Yes |
| 3 | Kraken | Advanced charts, futures trading | Pending |
| 4 | OKX | 300+ coins, robust API | No |
| 5 | Huobi (HTX) | Rebranded, global expansion | No |
FAQs
Q: Is cryptocurrency taxable in Singapore?
A: No capital gains tax for individuals, but businesses may incur GST.
Q: Which exchanges allow SGD deposits?
A: Independent Reserve, Coinhako, and Crypto.com support SGD.
Q: Are decentralized exchanges (DEXs) legal?
A: Yes, but MAS monitors compliance with AML/CFT rules.
Q: How does MAS protect investors?
A: Licensed exchanges must segregate customer funds and undergo audits.
Final Thoughts
Singapore’s balanced regulatory framework fosters trust and innovation in crypto trading. For 2025, Coinbase Pro and Independent Reserve lead among MAS-compliant options, while OKX excels for altcoin diversity. Always verify licensing status before trading.