Singapore Introduces Regulatory Framework for Stablecoins to Ensure Stability and Compliance 🇸🇬
#Singapore 's central bank, #MAS , has introduced a revised regulatory framework to ensure stability for regulated single-currency stablecoins (#SCS ).
This applies to stablecoins pegged to the Singapore dollar or G10 currencies, circulating above 5 million SGD ($3.7 million). The framework mandates specific criteria for stablecoin issuers. They must maintain value stability through defined reserve assets, capital, and liquidity.
Issuers must quickly redeem stablecoins upon request, provide disclosures on value stabilization, holders' rights, and reserve asset audits. Only compliant stablecoins can seek MAS regulation, with misrepresentation facing penalties.
