MAS proposes amendments to Payment Services Act 2019 for stablecoin regulation.

The Monetary Authority of Singapore is consulting on changes to the Payment Services Act 2019 to establish a regulatory framework for stablecoin issuers. The proposed rules will define qualification criteria for regulation and mandate safeguards for user protection and value stability.

Why it mattersLawyers advising digital asset issuers must monitor these developments to ensure future compliance with new stability and protection mandates.