Singapore’s central bank has launched a consultation on proposed legal changes to implement its stablecoin regulatory framework.
The Monetary Authority of Singapore (MAS) has published a consultation paper on proposed amendments to the Payment Services Act 2019 to implement its regulatory framework for stablecoins. MAS is also seeking industry feedback on additional policy proposals The proposed changes set out how stablecoin issuers can qualify as MAS-regulated entities and the requirements they must meet on value stability and user protection. Under the proposed framework, only issuers licensed by MAS will be allow