MAS Stablecoin Regulatory Framework (Aug 15, 2023): It covers Single-Currency Stablecoins (SCS) pegged to SGD or G10 currencies. It requires licensing, 1:1 reserve backing, timely (within 5 business days) redemption, and monthly attestations. Issuers of a "MAS-regulated stablecoin" with circulation exceeding S$5 million will need a Major Payment Institution (MPI) license from the MAS. SCS issuers below the threshold will not be regulated.
Applicable Laws:
MAS Stablecoin Regulatory Framework - https://www.mas.gov.sg/news/media-releases/2023/mas-finalises-stablecoin-regulatory-framework
