MAS seeks feedback on proposals to regulate stablecoin value and user protection

MAS issued a consultation paper proposing Payment Services Act changes to regulate stablecoin issuers and protect users.

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As of 2026-09-01 12:30 UTC. Market figures are as the cited sources reported them at that time and may have moved since. This is news, not investment advice.

The Monetary Authority of Singapore (MAS) issued a consultation paper on 2026-09-01 proposing legislative changes to the Payment Services Act to regulate stablecoin issuers in Singapore. ^[1] The Monetary Authority of Singapore (MAS) published new proposed legislative amendments to the Payment Services Act on September 1, 2026, to establish a regulatory framework for stablecoin issuers. ^[2] MAS proposed that stablecoins not regulated by MAS would be treated as digital payment tokens (DPTs) and subject to the consumer protection safeguards applicable to that asset class. ^[3] Proposed requirements for MAS-regulated stablecoin issuers include maintaining stable value, holding sufficient capital, redeeming tokens at original value upon user request, and providing relevant disclosures. ^[4] Under the proposed MAS Single-Currency Stablecoin framework, only stablecoin issuers licensed by MAS would be allowed to label their tokens as 'MAS-regulated stablecoins'. ^[5] Ho Hern Shin, the authority's deputy managing director for financial supervision, stated that the proposed amendments will give effect to a stablecoin framework that promotes responsible financial innovation. ^[6] The proposed amendments require stablecoin issuers to undergo stress testing and have in place plans for recovery and orderly wind-down. ^[7]

What this stands on

The Monetary Authority of Singapore (MAS) published new proposed legislative amendments to the Payment Services Act on September 1, 2026, to establish a regulatory framework for stablecoin issuers. ·

PYMNTS.com

MAS proposed that stablecoins not regulated by MAS would be treated as digital payment tokens (DPTs) and subject to the consumer protection safeguards applicable to that asset class. · The Business Times

Proposed requirements for MAS-regulated stablecoin issuers include maintaining stable value, holding sufficient capital, redeeming tokens at original value upon user request, and providing relevant disclosures. · The Business Times

Under the proposed MAS Single-Currency Stablecoin framework, only stablecoin issuers licensed by MAS would be allowed to label their tokens as 'MAS-regulated stablecoins'. · The Business Times

Ho Hern Shin, the authority's deputy managing director for financial supervision, stated that the proposed amendments will give effect to a stablecoin framework that promotes responsible financial innovation. ·

PYMNTS.com

The proposed amendments require stablecoin issuers to undergo stress testing and have in place plans for recovery and orderly wind-down. ·

PYMNTS.com

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