Singapore central financial institution releases regulatory framework for stablecoins

Singapore’s central financial institution has launched a revised regulatory framework geared toward guaranteeing stability for single-currency stablecoins (SCS) regulated within the city-state.

The Financial Authority of Singapore introduced the framework on Aug. 15, which is geared toward non-bank issued stablecoins pegged to the worth of the Singapore greenback or G10 currencies such because the euro, British pound and United States greenback and whose circulation exceeds 5 million Singapore {dollars} ( $3.7 million).

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