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Gan Kim Yong

颜金勇

Deputy Prime Minister and Chairman, Monetary Authority of Singapore

SingaporeRegulator

About

Gan Kim Yong is a Singaporean politician and former business executive. He studied engineering at Cambridge University on an Overseas Merit Scholarship, graduating in 1981, and received a master's in engineering from Cambridge in 1985. He began in the civil service at the Ministry of Trade and Industry and the Ministry of Home Affairs, then moved to NatSteel in 1989, where he became President and CEO in 2005. He entered politics in 2001 and has held the education, manpower and health portfolios. He co-chaired Singapore's COVID-19 taskforce from 2020 to 2023.

He is Deputy Prime Minister and Minister for Trade and Industry. He has chaired the Monetary Authority of Singapore (MAS) since 15 May 2024, succeeding Lawrence Wong when Wong became Prime Minister. In May 2026 MAS announced that he would be re-appointed as Chairman for a further three years, from 1 June 2026 to 31 May 2029. He also oversees the Strategy Group in the Prime Minister's Office.

As MAS Chairman, he answers parliamentary questions on digital assets. In a written reply on 24 September 2025 he said MAS was not seeking formal US recognition after the GENIUS Act. He pointed instead to Singapore's 2023 stablecoin framework and planned legislative amendments. On 5 August 2026 he told Parliament that only 37 of about 300 applicants had been licensed as digital payment token service providers. On 1 September 2026 MAS published draft amendments to the Payment Services Act to put the stablecoin framework into law. His replies set out the government's public position on crypto and stablecoin policy.

Policy engagement

Answers parliamentary questions on digital assets for MAS. In September 2025 told Parliament that MAS was preparing legislative amendments to formalise its stablecoin framework and would consider cross-border regulatory cooperation.

Source: MAS, 24 Sep 2025: written reply on the US GENIUS Act and stablecoins

Key actions

  1. In a written parliamentary reply, said MAS had licensed only 37 of about 300 digital payment token service provider applicants and described its anti-money laundering safeguards for the sector.

    Source

  2. At the Association of Banks in Singapore annual dinner, outlined MAS's planned Future of Finance Institute, including an innovation garage to pool resources for AI and tokenisation capabilities.

    Source

  3. MAS announced his re-appointment as Chairman of the MAS Board from 1 June 2026 to 31 May 2029.

    Source

  4. In a written parliamentary reply on the US GENIUS Act, said MAS was not seeking formal US recognition and pointed to Singapore's 2023 stablecoin framework and upcoming legislative amendments.

    Source

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