MAS Finalizes Stablecoin Regulatory Framework Legislation
Summary
The Monetary Authority of Singapore announced it will prepare draft legislation to give full effect to its stablecoin regulatory framework, requiring MAS-regulated stablecoins to maintain reserve assets valued at no less than 100% of stablecoins in circulation, with strict requirements on reserve composition, custody, and audit.
Key Changes
- 100% reserve backing requirement for stablecoins
- Mandatory whitepaper with stabilization mechanism details
- Minimum capital of S$1 million or 50% of annual operating costs
- Business restrictions limiting issuers to stablecoin activities only
Affected Industries
Source
Key Dates
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