Singapore Postpones New Crypto Rules for Banks to 2027
- The Monetary Authority of Singapore (MAS) has delayed the implementation of new crypto prudential standards to January 2027.
- Originally set for January 2026, the delay follows industry feedback expressing concerns about the timing and treatment of blockchain assets.
- The updated rules will require banks to hold capital reserves against their cryptoasset exposures based on risk classification.
- Cryptoassets on public, permissionless blockchains are considered higher risk and will attract higher capital requirements.
- As of April this year, about 26% of Singaporeans held some form of cryptocurrency.
MAS’s decision to postpone the rollout aims to address industry concerns and ensure alignment with global regulatory standards while supporting responsible innovation in the crypto sector. The move reflects Singapore’s cautious approach in balancing financial stability with technological advancement.
This delay may allow Singaporean institutions more time to adapt and fully participate in innovative technologies without facing potential regulatory disadvantages from early adoption of the Basel cryptoasset framework. Source
