Singapore: Fin Tech

The recommendations set out a two-step consideration for FIs wondering if a particular digital asset would benefit from additional controls.

Should an employee accept payment of her salary in cryptocurrency or digital tokens? Should a business accept digital payment tokens as payment for goods or services? What are the tax implications? What is the best way to structure such payments?

The Metaverse involves a confluence of cutting-edge technologies and is touted to become as revolutionary as the Internet when it was first brought into the mainstream.