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Singapore's MAS Proposed Payment Services Act Amendments to Make Its Stablecoin Framework Enforceable Law
MAS published a consultation on September 1 that would move the 2023 stablecoin framework from policy into statute, creating a dedicated issuance license and reserving the "MAS-regulated stablecoin" label for issuers meeting the full regime. It covers single-currency stablecoins issued in Singapore pegged to SGD or a G10 currency, requiring reserve assets covering at least 100% of outstanding tokens in liquid low-risk instruments, segregated from issuer assets. Feedback closes October 16, 2026.
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