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Singapore Delays Basel Crypto Banking Rules to 2027 Amid Industry Adjustments
Singapore Delays Basel Crypto Banking Rules to 2027 Amid Industry Adjustments
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BTCCSquare news:
Singapore's Monetary Authority (MAS) has deferred the implementation of Basel Committee crypto asset capital rules to January 2027, granting financial institutions additional preparation time. The decision follows consultations with 13 industry participants, including stablecoin issuer Circle, who expressed concerns over operational readiness.
While Hong Kong targets 2026 for adopting Basel's crypto framework and the EU already enforces similar regulations under CRR3, Singapore's measured approach reflects its balancing act between regulatory rigor and industry development. The delay signals MAS's responsiveness to private sector feedback in shaping digital asset policies.
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