The Monetary Authority of Singapore launches a public consultation on stablecoin regulation

The Monetary Authority of Singapore is publicly soliciting opinions on the proposed legislative amendments to the Payment Services Act 2019, aimed at establishing a regulatory framework for stablecoins in Singapore. At the same time, it is seeking public feedback on related proposals for further regulatory requirements, which reference the developments in the stablecoin industry since 2023.

This consultation also seeks opinions on policy positions regarding the issuance of stablecoins across multiple jurisdictions and the recognition of overseas-issued stablecoins. The deadline for submitting opinions is October 16.