Story details
The Monetary Authority of Singapore published proposed amendments to the Payment Services Act on 1 September to implement its regulatory framework for single-currency stablecoins issued in Singapore and pegged to the Singapore dollar or a G10 currency. Issuers would need to meet safeguards for value stability, capital, redemption at par and disclosure to qualify as MAS-regulated.
The consultation also covers joint Singapore-foreign issuance, limited recognition of comparable foreign-issued stablecoins, stress testing and orderly wind-down plans. MAS proposed barring interest payments on regulated stablecoins and requiring issuers to safeguard customer money received before tokens are issued. Comments are due by 16 October 2026.