Singapore proposes stablecoin regulations banning yield payments and recognizing foreign issuers
The Monetary Authority of Singapore (MAS) issued a public consultation on September 1, 2026, proposing amendments to its stablecoin regulatory framework. Key proposals include banning stablecoin issuers from paying yield to investors, requiring 100% reserve assets held separately, and expanding recognition to foreign-issued and multi-jurisdictional stablecoins. The consultation seeks feedback on reserve asset management and redemption rights, closing October 16, 2026, as part of Singapore’s broader digital asset regulation efforts.