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Singapore sets new rules for stablecoins

Singapore sets new rules for stablecoins.

The Monetary Authority of Singapore (MAS) has introduced a regulatory framework for stablecoins aimed at enhancing their stability.

The new rules will apply to single-currency stablecoins (SCS) pegged to the Singapore dollar or any G10 currency, including the euro, US dollar, and British pound.

Issuers must provide detailed information about composition, valuation, storage, and audit, and also comply with new capital requirements and redemption rules.

Only those stablecoins that fully meet these criteria will be recognized as “MAS-regulated stablecoins.”

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Read more at the link: https://www.finextra.com/newsarticle/42786/singapore-rolls-out-new-regulatory-framework-for-stablecoins