MAS Opens Public Consultation on Stablecoin Regulatory Framework

Singapore's Monetary Authority of Singapore (MAS) has started a public consultation on proposed amendments to the Payment Services Act (PSA), which would introduce a dedicated regulatory framework for stablecoins in the city-state.

The MAS is seeking feedback on additional regulatory requirements that reflect developments in the stablecoin industry since 2023, including measures related to reserve management, redemption rights, and disclosure obligations.

If implemented, the new framework would likely require stablecoin issuers in Singapore to obtain a license under the PSA, subject to stringent capital and governance requirements.