Summary
The Monetary Authority of Singapore (MAS) has issued a public consultation paper (P015-2026) proposing amendments to the Payment Services Act to extend the stablecoin regulatory framework to foreign issuers, allowing eligible foreign stablecoins to gain limited recognition and allowing joint issuan…
Key points
- For stablecoin issuers and payment firms, this is a key compliance trend in the Asian market.
- Singapore's stablecoin framework shift to opening to foreign issuers will impact the APAC stablecoin competitive landscape.
- Issuers must adjust product designs to meet no-interest and high-reserve requirements or face challenges in obtaining a Singapore license.
- Compared to 2023, which only allowed local issuers, this proposal is a significant change.
Editorial note
This page is Code & Chain's editorial summary of public sources. It may be prepared with AI assistance and published through an automated workflow. Refer to the original sources; this content is not investment, legal, or tax advice.