A chronology

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The following table places the Hong Kong milestones against the Singapore and Swiss dates discussed in Parts A, C and I.

Date	Hong Kong	Singapore	Switzerland
November 2019	SFC opt-in regime for platforms trading security tokens		Federal Council dispatch on DLT Act (27 November)
January 2020		PSA 2019 commences (28 January)
December 2020	OSL receives first Type 1/Type 7 licence for VA
February/August 2021			DLT Act enters into force
October 2022	FSTB Policy Statement on Virtual Assets	MAS consultations after Three Arrows and Terraform
December 2022	AMLO Amendment Ordinance passed
1 June 2023	VATP regime commences		FINMA Guidance on staking (08/2023) follows in December
August 2023		MAS single-currency stablecoin framework
April 2024	Spot bitcoin and ether ETFs listed	PSA 2021 amendments in force
1 June 2024	End of non-contravention period		FlowBank liquidation (June)
February 2025	ASPIRe roadmap
April 2025	Staking permitted for VATPs and funds
May 2025	Stablecoins Ordinance passed (21 May)
30 June 2025		DTSP regime commences
26 June 2025	Policy Statement 2.0
1 August 2025	Stablecoins Ordinance in operation
2026	Dealer and custodian licensing bills (pending)	SCS legislation (pending)	Stablecoin and AML reforms (pending)

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of October 2026.

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Dr Alexander Ressos, TEP

Of Counsel, KGP Legal LLC

I am Of Counsel with KGP Legal LLC in Singapore, where I work with a global client base of successful entrepreneurs and their families, independent asset managers, commodity trading houses and other commercial clients. I am a German and Swiss attorney-at-law, also admitted as a solicitor in England & Wales and in Hong Kong. I divide my time between Zug in Switzerland, Singapore and Hong Kong. Since 2017 I have advised international clients on more than 700 crypto and digital asset projects. I also have extensive experience in cross-border litigation and arbitration in Singapore, Hong Kong and other markets in South-East Asia and Greater China.

I operate across the key financial centres in South-East Asia, the Middle East and Switzerland, with a particular focus on asset protection, international tax and estate planning, as well as trusts, company administration and other fiduciary services. My philosophy is to serve as a trusted advisor working closely with my clients and to help them achieve their commercial objectives.

All Singapore law advice is provided through KGP Legal LLC, an established and duly licensed firm of Singapore advocates and solicitors.

KGP Legal LLC is a medium-sized law firm in Singapore that is capable of providing the full range of legal services and corporate administration work. Please contact me if you need any further information.

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SingaporeIQ is edited by Dr Alexander Ressos, an international business lawyer with more than 15 years of local experience in Singapore as a permanent resident, a Singapore registered foreign lawyer and managing partner of a Singapore foreign law practice. In addition to significant experience in cross-border investments and transactions, UHNWI private client work and sanctions/export controls, Dr Ressos has extensive experience in cross-border business and in crypto and digital-asset projects in Singapore, drawn from more than 700 projects since 2017.

If you are planning a company incorporation, an investment, a holding structure or a market entry through Singapore, you can reach Dr Ressos directly at [email protected]. Singapore law advice is provided by KGP Legal LLC, a licensed firm of Singapore advocates and solicitors. Dr Ressos and his team facilitate the full range of Singapore legal, compliance and company administration services, including company incorporation, corporate transactions, commercial contracts, crypto and digital assets, financial regulatory work and dispute resolution, including litigation in the Singapore courts. For Hong Kong, our parallel site HongkongIQ.com offers the same practical guidance. For crypto and digital assets, dltreg.com covers legal, tax and fiduciary services. For legal, tax and fiduciary services in Switzerland, see helveticaregister.com.