The Monetary Authority of Singapore Launches Stablecoin Regulation Public Consultation

BlockBeats News, September 1st, the Monetary Authority of Singapore (MAS) publicly sought feedback on the proposed legislative amendments to the Payment Services Act 2019, aiming to establish a regulatory framework for stablecoins in Singapore. At the same time, it sought public feedback on proposed additional regulatory requirements, with the proposals taking into account developments in the stablecoin industry since 2023.

This consultation also sought feedback on policy positions regarding the issuance in multiple jurisdictions and recognition of stablecoins issued overseas. The deadline for the feedback is October 16th.