The Monetary Authority of Singapore proposed on 1/9 to allow stablecoins jointly issued by Singaporean and foreign companies, and to recognise certain foreign stablecoins already licensed overseas if the issuer’s regulator has a cooperation agreement with Singapore. The proposed rules are stricter, requiring issuers to freeze and remove stablecoins linked to illegal activity, prepare for financial difficulties, run quarterly stress tests and not pay interest to holders. Experts expect licensed payment firms such as StraitsX and Paxos to have an advantage, while banks may be deterred because they must set up separate nonbank companies to issue stablecoins. Several details remain unresolved, including minimum cash reserves, issuance limits and identity checks for holders, and the Payment Services Act of 2019 may need amendment.
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Related tickers and likely impact
BTC/USDT
• NeutralBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/18/2026 | 82,116.00 |
| Change that session | +0.77% |
ETH/USDT
• NeutralEthereum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $294.2B |
| Close on 10/18/2026 | 2,410.31 |
| Change that session | +0.31% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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