Monetary Authority of Singapore

The Monetary Authority of Singapore is the central bank and financial regulatory authority of Singapore, responsible for overseeing monetary policy, financial stability, and the development of the financial sector.

Why it’s in the news: It is in the news for advancing regulatory frameworks for emerging technologies like stablecoins and AI, and for issuing new guidelines on third-party risk management.

Latest on Monetary Authority of Singapore

• Monetary Authority of Singapore and the Bank of Thailand ink cybersecurity MoU
• Monetary Authority of Singapore and banks team on safeguards for AI agents
• The Monetary Authority of Singapore issued guidelines on October 16, 2023, emphasizing that failures of third-party services are not acceptable excuses.
• MAS on Tuesday (Sep. 1) published new proposed legislative amendments to the Payment Services Act, which would establish ways for stablecoin issuers to become MAS-regulated.
• Singapore's financial regulator is closer to implementing a regulatory framework for stablecoins.
• The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) announced the establishment of the AI-Driven Cyber and Technology Risk Taskforce (ACT) to address cyber threats from frontier AI models.
• Regulators including the Monetary Authority of Singapore and the Federal Reserve have begun requiring enhanced AI governance protocols from lenders operating within their jurisdictions.
• Financial institutions remain accountable for third-party AI under new MAS guidelines
• Singapore’s central bank wants all FinTech AI use cases subject to independent review

Connections

11 entities linked to Monetary Authority of Singapore across the news graph.