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2 clusters · 19 sources · 2 days · First seen · Last updated

Singapore and Japan stablecoin regulatory developments

Overview

The Monetary Authority of Singapore (MAS) has initiated a proposal to regulate stablecoins through legislative changes to the Payment Services Act. The proposed Single-Currency Stablecoin framework aims to allow only licensed issuers to use the label “MAS-regulated stablecoins,” ensuring users can distinguish them from unregulated tokens. Requirements for issuers include maintaining sufficient capital, ensuring value retention, and allowing redemption at original value.

Following this, regulators in Singapore and Japan have begun reviewing their respective frameworks. The MAS proposal specifically includes a requirement for issuers to maintain 100% reserves in assets held by licensed financial institutions and a ban on paying interest or yields to holders, treating stablecoins as payment tools rather than investment products.

In Japan, authorities are considering loosening tax reporting requirements for the sector. Concurrently, the Bank for International Settlements (BIS) has raised concerns regarding the credibility of stablecoins, with General Manager Pablo Hernández de Cos stating they lack “singleness,” “interoperability,” and “financial integrity.”

Entities

Monetary Authority of Singapore · Singapore · Bank for International Settlements · Tether · Japan

Timeline

  1. 11 days ago

    [BUSINESS] 10 sources
    Singapore and Japan review stablecoin regulatory frameworks

    Singapore and Japan are reviewing stablecoin regulations, with Singapore proposing a 100% reserve requirement and a ban on interest payments to align with international standards.

  2. 12 days ago

    [BUSINESS] 9 sources
    Monetary Authority of Singapore proposes new stablecoin regulations

    The Monetary Authority of Singapore is seeking feedback on a new regulatory framework for stablecoins to ensure value stability, capital sufficiency, and enhanced consumer protection.

Sources

asianbankingandfinance.net · bitcoinethereumnews.com · bitcoinke.io · bittimes.net · blockchainreporter.net · blocktempo.com · coinpedia.org · cointelegraph.com · cryptobriefing.com · dailyguardian.ca · detlionblood32.wordpress.com · fintechnews.ch · fintechnews.hk · fintechnews.my · fintechnews.ph · fintechnews.sg · fxdailyreport.com · investmentwatchblog.com · toray.co.jp