🚨Singapore has made a move: stablecoin issuers must hold 100% reserves and are forbidden from paying interest! Will the world’s strictest stablecoin rules be coming soon?
Group:
点击进入玖玖的粉丝群Today, the Monetary Authority of Singapore (MAS) released a consultation paper proposing amendments to the Payment Services Act, with the MAS-SCS stablecoin framework slated for official implementation. The core is just three rules: only licensed issuers may call themselves “MAS-regulated stablecoins”; reserves must cover 100% of the outstanding supply, held in safe and liquid assets; and users must be able to redeem at face value within five business days. The harshest rule is—no paying interest or any returns to holders.
Specific details: the pegged currencies are limited to the Singapore dollar or G10 currencies (US dollar, euro); if a token doesn’t meet the requirements, it can only be downgraded to be treated as a regular digital payment token. The consultation window closes on October 16, after which it will move into the legislative process.
Cross-analysis: these rules clearly align with the frameworks in the US and the EU—effectively, Asia’s financial hub is proactively giving stablecoins an official “stamp of legitimacy.” Issuers like Tether and Circle will see increased compliance costs in Singapore, but compliant stablecoins will instead get a passport for cross-border payments and tokenized finance.
What’s truly worth watching isn’t who gets restricted, but that MAS is granting an official identity to “regulated stablecoins”—which means banks and institutions will dare to onboard stablecoins at scale. This is the foundation of the RWA narrative.
A bucket of cold water: between consultation and final implementation there’s still the legislative process, and until October 16 everything is still variable. The ban on returns will deter some capital that wants to earn interest—so it may not be bullish in the short term.
👀 Do you think this round of Singapore’s regulation is a turning point that helps stablecoins break into the mainstream, or a tight set of reins for the industry?
Click the profile picture to watch the live stream, and join the Jiujiu chat group to get daily strategies 🚀
#稳定币 #新加坡 #MAS #加密监管 #RWA