According to CoinMeta, the Central Bank of Singapore proposed on September 1st the establishment of a specialized licensing regime for stablecoin issuance, taking a step forward from the framework announced in 2023 towards its implementation. The Monetary Authority of Singapore stated that issuers are required to maintain at least 100% reserve assets to cover the tokens they issue and to support redemptions at face value, in compliance with rules regarding capital, disclosure, and reserve management. Only licensed issuers that meet the full framework can refer to their tokens as “MAS regulated stablecoins.” This proposal has not yet taken effect, and regulatory authorities are accepting feedback until October 16th.