Singapore faces regulatory reset, not a collapse, amid crypto and wealth shifts

Beincrypto reports Chinese‑language social media has circulated claims that Singapore is collapsing as millionaires flee and crypto companies depart amid tighter regulation. The data cited in the piece paints a different picture: Euromonitor projects Singapore’s luxury market to grow 7–9% in 2025 to S$13.9 billion, and the city‑state has 242,400 resident millionaires with median household income rising for five consecutive years.

Singapore’s asset management industry doubled to about $4 trillion with 80% from abroad, family offices grew from 400 in 2020 to 1,100 by end‑2022, and Henley & Partners reported millionaire inflows fell 54% (3,500 in 2024 to 1,600 in 2025). Non‑PR foreign buyers accounted for 1% of private property transactions in Q1 2024, down from 6.4% a year earlier after the Additional Buyer’s Stamp Duty was raised to 60%.

Regulatory change has reshaped the crypto sector: following 2022 shocks including Terra‑Luna, FTX and the Fujian Gang scandal, the Monetary Authority of Singapore introduced the Digital Token Service Provider licensing regime that took effect on June 30, 2025 with no transition period.

Key Topics

Crypto, Singapore, Mas, Dtsp, Terra-luna, Ftx