MAS Stablecoin Framework (Singapore)
Singapore’s regulatory framework by the Monetary Authority of Singapore for single-currency stablecoins pegged to SGD or G10 currencies, emphasizing value stability and consumer protection.
What is MAS Stablecoin Framework (Singapore)?
The Monetary Authority of Singapore (MAS) finalized its stablecoin regulatory framework in August 2023, with ongoing implementations and recognitions in 2025, targeting single-currency stablecoins (SCS) pegged to the Singapore Dollar or G10 currencies like USD. Issuers must meet requirements on value stability, capital adequacy, redemptions, and disclosures to be labeled “MAS-regulated stablecoins,” with reserves held in cash, cash equivalents, or short-term debt securities. This opt-in framework applies across Singapore, excluding financial free zones, and in 2025, MAS sought U.S. recognition under the GENIUS Act for comparability, promoting safer stablecoins while fostering innovation in digital asset payments.
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