He noted that the exemption applies only to transactions carried out through platforms regulated by the Securities and Exchange Commission and in compliance with anti-money laundering standards.

These operators follow guidelines from the Financial Action Task Force to ensure transparency and traceability.

The Revenue Department is also working on adopting the OECD’s Crypto-Asset Reporting Framework, which would enable the automatic exchange of digital asset transaction data with other countries.

Featured image: Edited by Fintech News Singapore, based on images by tawatchai07 and marcostristao via Freepik