MAS to consult public on regulating stablecoins

Monetary Authority of Singapore

The Monetary Authority of Singapore is “actively reviewing” its approach to regulating stablecoins, said the central bank’s chairman, Tharman Shanmugaratnam.

Tharman said the MAS is assessing the merits of a regulatory regime targeting “the specific characteristics and risks” of stablecoins.

Answering a parliamentary question on August 1, the official highlighted the recent collapse of stablecoin terraUSD – which is pegged to the US dollar – and its sister coin luna.

“The recent chain of high

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