MAS Seeks Feedback on Proposed Stablecoin Regulations

The Monetary Authority of Singapore (MAS) has proposed legislative amendments to formally establish its regulatory framework for stablecoins, moving from policy guidance to enforceable law. The consultation, opened on September 1, 2026, seeks public feedback on changes to the Payment Services Act that would define which issuers can use the "MAS-regulated stablecoin" designation and the strict requirements they must meet. The proposed framework centers on four key pillars: reserve backing, redemption at par, disclosure obligations, and capital requirements for issuers.