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Is Cryptocurrency Mining Legal In Singapore

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There is no legislation in the Republic of Singapore that specifically relate to the mining of Bitcoin and other cryptos although mining of cryptocurrency and Bitcoin in Singapore is not illegal. As other Asian cities like Hong Kong remain staunch on cryptocurrency-related legislations Singapores welcoming stance hopes to lure digital asset groups. Beginner S Guide To Earning Bitcoin In Singapore With Your Windows Pc Gpu In a guidance piece published on 17 April 2020 IRAS clarified that The taxability of a miners profits from the disposal of payment tokens including those obtained from a mining pool depends on whether the miner performs the mining activity with an intention to profit. Is cryptocurrency mining legal in singapore . For this reason Singapores Ministry of Law has urged market participants to do due diligence before accepting them as forms of. In Singapore neither the cryptocurrencies themselves nor custodianship of such cryptocurrencies is specifically regulated. Howev

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