MAS Consults on Legislative Amendments to Implement Stablecoin Regulatory Framework
Why this matters
This is a formal consultation paper on proposed legislative amendments to the Payment Services Act 2019 to establish the MAS Single-Currency Stablecoin framework. The update sets out binding requirements for stablecoin issuers seeking MAS regulation, including value stability safeguards, capital requirements, redemption at par, disclosure obligations, and consumer protection measures. It also addresses multi-jurisdictional issuance, foreign stablecoin recognition, financial stability enhancements, and stress-testing requirements. The consultation deadline of 16 October 2026 indicates this is a near-term policy initiative with material impact on payment providers and fintech firms operating in the stablecoin space.
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What the MAS said
MAS published a consultation paper on proposed legislative amendments to the Payment Services Act 2019 (PS Act) to implement MAS’ regulatory framework for stablecoins in Singapore. The amendments will set out how stablecoin issuers may qualify to be MAS-regulated, and the safeguards they must meet to support value…
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Context
Monetary Authority of Singapore (MAS) — Singapore's central bank and integrated financial regulator. We track 148 updates from them.
Singapore's financial sector is regulated by MAS. Browse all Singapore updates.
This update is classified under Authorisation & Licensing, Consumer Protection / Conduct, Prudential / Capital Requirements and Crypto & Digital Assets.