licencemap
Informational only, not legal advice. Verify with qualified counsel before acting. Full disclaimer

Pin and benchmark

Pin the jurisdiction you are leaning towards, then line up to 5 rivals against it. Every unlocked figure shows where a peer beats it or loses to it on capital, timeline, cost and difficulty, so one screen tells you whether your first choice actually holds up.

Crypto (CASP / VASP) E-money (EMI)
Compare against (up to 5)

Tip: tick more peers to widen the comparison. Your pinned jurisdiction cannot also be a peer. Changes apply automatically a moment after your last tick.

Dimension Pinned
🇸🇬 Singapore partly open
Verified 2026-07-01
 🇹🇭 Thailand partly open
Verified 2026-07-03
Licence type Payment Services Act 2019 Digital Payment Token (DPT) service licence, held as a Standard (SPI) or Major Payment Institution (MPI) - most crypto firms are MPIs. Plus the newer DTSP regime (FSMA 2022 Part 9) and a finalised (not-yet-legislated) stablecoin issuer framework.
Verified 2026-07-01 Source: MAS - Guide to the Payment Services Act 2019: https://www.mas.gov.sg/-/media/mas/regulations-and-financial-stability/regulations-guidance-and-licensing/payment-service-providers/guide-to-the-payment-services-act-2019.pdf
Digital Asset Business licence under the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), as amended (most significantly by an April 2025 amendment extending extraterritorial scope). Distinct categories: Digital Asset Exchange, Digital Asset Broker, Digital Asset Dealer, ICO Portal, and Digital Asset Fund Manager, each with its own capital tier and asset-keeping vs. non-asset-keeping sub-conditions.
Verified 2026-07-02 Source: SEC Thailand, Digital Asset Business Operators: https://www.sec.or.th/EN/Pages/LawandRegulations/DigitalAssetBusiness.aspx
Regulator Monetary Authority of Singapore (MAS) - central bank and integrated regulator; administers the PSA, the DTSP regime, the SFA and the stablecoin framework.
Verified 2026-07-01 Source: MAS - Licensing for Payment Service Providers: https://www.mas.gov.sg/regulation/payments/licensing-for-payment-service-providers
Securities and Exchange Commission (SEC) Thailand is the primary licensing/supervisory authority; the Ministry of Finance formally grants the licence on SEC recommendation. The Ministry of Digital Economy and Society (MDES) holds blocking powers over unlicensed platforms (added by the 2025 amendment). The Bank of Thailand has a consultative role for certain payment-related and stablecoin aspects.
Verified 2026-07-02 Source: Tilleke & Gibbins, Thailand Restricts Access to Illegal Digital Asset Services: https://www.tilleke.com/insights/thailand-restricts-access-to-illegal-digital-asset-services/46/
Capital requirement Singapore capital requirement is locked. Unlock with the £349 pass. Thailand capital requirement is locked. Unlock with the £349 pass.
Timeline to authorisation Singapore timeline to authorisation is locked. Unlock with the £349 pass. Thailand timeline to authorisation is locked. Unlock with the £349 pass.
Local substance Singapore local substance is locked. Unlock with the £349 pass. Thailand local substance is locked. Unlock with the £349 pass.
Application cost Singapore application cost is locked. Unlock with the £349 pass. Thailand application cost is locked. Unlock with the £349 pass.
Ongoing cost Singapore ongoing cost is locked. Unlock with the £349 pass. Thailand ongoing cost is locked. Unlock with the £349 pass.
Passporting Singapore passporting is locked. Unlock with the £349 pass. Thailand passporting is locked. Unlock with the £349 pass.
MiCA CASPs approved Singapore mica casps approved is locked. Unlock with the £349 pass. Thailand mica casps approved is locked. Unlock with the £349 pass.
Key restrictions Singapore key restrictions is locked. Unlock with the £349 pass. Thailand key restrictions is locked. Unlock with the £349 pass.
Recent changes DTSP regime (FSMA Part 9) commenced 30 Jun 2025 - Singapore firms serving only overseas customers must be licensed, and MAS 'will generally not issue' such licences (no transition). MPI DPT licensees ~37 by mid-2026. MAS revoked Bsquared Technology's MPI licence (May 2026). Stablecoin legislation still in drafting.
Verified 2026-07-01 Source: MAS - Clarifies regime for DTSPs (6 Jun 2025): https://www.mas.gov.sg/news/media-releases/2025/mas-clarifies-regulatory-regime-for-digital-token-service-providers
April 2025: extraterritorial scope amendment plus MDES no-court-order blocking powers, the biggest regulatory shift in this period. 1 November 2024: new capital requirement notification (KorThor. 28/2567) took effect, phased to full compliance by 1 November 2025. May-June 2025: first major enforcement wave blocking 5 offshore exchanges. Early 2026: criminal complaints filed against local/overseas joint-operation arrangements, signaling a shift from blocking to prosecution. ERX rebranded as KuCoin Thailand in 2025 following acquisition by KuCoin, illustrating global exchanges entering via licensed local subsidiaries.
Verified 2026-07-03 Source: Global Legal Insights, Blockchain & Cryptocurrency Laws 2026 – Thailand: https://www.globallegalinsights.com/practice-areas/blockchain-cryptocurrency-laws-and-regulations/thailand/
Difficulty rating Singapore difficulty rating is locked. Unlock with the £349 pass. Thailand difficulty rating is locked. Unlock with the £349 pass.

Unlock the money rows of this benchmark

Capital, timeline, costs, substance, passporting, restrictions and difficulty for your pinned jurisdiction and every peer, with the deltas that show where each one wins or loses. One-off Founder Pass (£349) or Pro with change alerts.

See pricing
Back to the full matrix Export this benchmark

Informational only, not legal advice. A delta compares the sortable figure only (capital, timeline, cost, difficulty, passporting, approvals); it is not a judgement on overall suitability. Verify with qualified counsel before acting.