Singapore Unveils Proposed Stablecoin Regulatory Framework Amid Global Adoption

Singapore has taken another step in its efforts to establish a regulatory framework for stablecoins. The Monetary Authority of Singapore (MAS) published proposed legislative amendments to the Payment Services Act, which would introduce a long-awaited stablecoin regulatory framework.

The MAS first announced the framework in 2022, but no time frame has been set for passing it into law. The latest proposal is open for public consultation, allowing stakeholders to provide feedback on the changes before they are finalized.