The Monetary Authority of Singapore has published a major consultation on proposed amendments to the Payment Services Act and the next phase of Singapore’s stablecoin regulatory framework:
https://www.mas.gov.sg/publications/consultations/2026/consultation-on-proposed-amendments-to-the-payment-services-act-for-stablecoin-regulation
The proposals go well beyond implementing the previously announced MAS Single-Currency Stablecoin framework, introducing a number of new policy positions on the issuance, use and regulation of stablecoins in Singapore.
SFA's Web3 and Capital Markets Services Subcommittees invite you to an interactive discussion on the consultation, its practical implications and the feedback that market participants may wish to provide to MAS.
The discussion will consider key issues including the proposed requirements for MAS-regulated stablecoin issuers, restrictions on interest and use of reserve returns, reserve and liquidity requirements, stress testing and recovery planning, and the proposed ability to trace, freeze or burn stablecoins.
We will also explore some of the consultation’s most significant developments for the broader digital asset ecosystem, including:
- the proposed framework for designated systemic stablecoins;
- multi-jurisdictional issuance, including the ability for the same stablecoin to be issued from Singapore and overseas;
- the proposed recognition framework for foreign-regulated stablecoins;
- new requirements affecting DPT service providers that offer non-MAS-regulated stablecoins to retail customers; and
- the proposed approach for banks and merchant banks wishing to issue MAS-regulated stablecoins.
The session is intended to be a practical, candid discussion among industry participants. Participants will have the opportunity to exchange views on where the proposals work well, where further clarification may be needed, and what issues should be raised in industry feedback to MAS ahead of the 16 October 2026 consultation deadline.
Who should attend: stablecoin issuers and prospective issuers, DPT service providers, banks and payment firms, Web3 businesses, compliance and legal professionals, investors, infrastructure providers and others with an interest in Singapore’s stablecoin ecosystem.
Date: 25 September 2026, Friday
Time: 2.00pm - 4.00pm (SGT) (registration from 1.45pm)
Venue: Gibson, Dunn & Crutcher LLP, One Raffles Quay, Level #36-01, North Tower, Singapore 048583
Please note that this session is for SFA members only. Confirmation will be provided via Google Calendar invitation.