Singapore just moved. 🇸🇬
MAS has proposed a dedicated stablecoin issuance license under the Payment Services Act:
→ 100% reserves, marked to market daily
→ Redemption at par within 5 business days
→ No yield or interest paid to holders — a payment instrument, not a deposit substitute
Same direction as the US GENIUS Act, EU MiCA, and Hong Kong’s regime.
Global stablecoin regulation is converging fast.
Public consultation closes 16 October 2026.
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