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

Odaily News: The Monetary Authority of Singapore has opened 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 options for further regulatory requirements, drawing on developments in the stablecoin industry since 2023. The consultation also covers policy positions such as the recognition of multi-jurisdictional issuance and the issuance of stablecoins overseas, with the consultation period closing on October 16.