Nature of crypto funds

What kind of licence do I need to set up a crypto fund in Singapore?

"Corporations with fund management as their principal business activity in Singapore have to be either (1) registered fund management companies (RFMCs) or (2) licensed fund management companies (LFMCs) which hold a capital markets services licence for fund management. RFMCs and LFMCs are regulated by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act of Singapore (SFA)."

Source: Simmons & Simmons, last revised on 7 Dec 2017