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MAS consults on legislative amendments to implement its stablecoin regulatory framework

MAS published a consultation paper on amendments to the Payment Services Act 2019 to implement its single-currency stablecoin (MAS-SCS) framework, covering value stability, capital, redemption at par and disclosure.

cryptobanking.news Editorial · AI-assisted, source-verifiedT1RegulatorAPAC
Illustration · category artwork. Primary source: Monetary Authority of Singapore (mas.gov.sg).

Key takeawaysFact

  1. 1MAS published a consultation paper on amendments to the Payment Services Act 2019 to implement its single-currency stablecoin (MAS-SCS) framework, covering value stability, capital, redemption at par and disclosure.
  2. 2It also proposes allowing multi-jurisdictional issuance, recognising a limited number of foreign-issued stablecoins, prohibiting interest on MAS-regulated stablecoins, and requiring stress testing and recovery and wind-down plans.
  • Stablecoins
  • Regulation

Executive summaryFact

MAS published a consultation paper on amendments to the Payment Services Act 2019 to implement its single-currency stablecoin (MAS-SCS) framework, covering value stability, capital, redemption at par and disclosure. It also proposes allowing multi-jurisdictional issuance, recognising a limited number of foreign-issued stablecoins, prohibiting interest on MAS-regulated stablecoins, and requiring stress testing and recovery and wind-down plans.

Primary source: Monetary Authority of Singapore ↗

Key factsFact

Event
Consultation
Jurisdiction
APAC
Source
Monetary Authority of Singapore
Source tier
Tier 1 · Regulator / central bank
Regulation
MAS stablecoin framework

Key datesFact

  • Consultation comments due

On the regulatory timeline

From the sourceFact

“The amendments will set out how stablecoin issuers may qualify to be MAS-regulated, and the safeguards they must meet to support value stability and user protection.”

“MAS invites interested parties to submit their comments by 16th October 2026”

Verbatim from Monetary Authority of Singapore✓ string-matched against the live page 2026-10-22

Why it matters for banksAnalysis

Banks planning SGD or G10-currency stablecoins, or wanting to use foreign stablecoins in wholesale flows, now have draft statutory requirements, including a proposed ban on paying interest, to design products and reserve management against.

Editorial analysis based on the facts above and the sources below; not legal or investment advice.

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AIAI-assisted: summary and analysis were drafted with AI from the primary source and are the editor’s responsibility. AI-drafted from the primary source; quote string-matched by scripts/verify.mjs. Methodology · Corrections · Report an error

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