Regulation · Instrument · Singapore · Consultation paper · Monetary Authority of Singapore
MAS Consultation Paper on Proposed Amendments to the Payment Services Act 2019 for Stablecoins Regulation (September 2026)
Draft legislation creating a stablecoin issuance licence under the Payment Services Act for single-currency stablecoins pegged to the Singapore dollar or a G10 currency. Only licensed issuers could use the "MAS-regulated stablecoin" label; other stablecoins would be treated as digital payment tokens. It also proposes joint Singapore-foreign issuance, recognition of a limited number of comparable foreign stablecoins, and a ban on paying interest.
Consultation closed · part of MAS single-currency stablecoin (SCS) regulatory framework
Timeline
- 1 Sep 2026 · ConsultationConsultation paper published.[1]
- 16 Oct 2026 · ConsultationComments closed on the scheduled date; MAS has not yet published its response or the amending bill.[1]
Deployments operating under it
None recorded with a source yet.
Sources
- [1]MAS Consults on Legislative Amendments to Implement Stablecoin Regulatory Framework — Monetary Authority of Singapore, 1 Sep 2026. Accessed 12 Oct 2026.A