Singapore Won’t Tax Airdrops or Hard Forks Under New Crypto Guidance

The Inland Revenue Authority of Singapore (IRAS)’s new e-tax guide, published Friday, filled in the tax gaps for so-called “digital tokens,” a catchall for three crypto types: payment tokens, used to by goods and services; utility tokens, which represent a right to goods and services; and security tokens, or digital securities. Each has a new definition and corresponding tax treatment from the IRAS.