Singapore's Monetary Authority Launches Public Consultation on Stablecoin Regulatory Framework

Odaily星球日报讯 The Monetary Authority of Singapore has issued a public consultation on proposed legislative amendments to the Payment Services Act 2019, aiming to establish a stablecoin regulatory framework for Singapore. The authority is also seeking public feedback on proposals for further regulatory requirements, taking into account developments in the stablecoin industry since 2023. The consultation also covers policy positions such as the recognition of multi-jurisdiction issuance and the issuance of stablecoins overseas. The consultation period ends on October 16.