1 year ago
The cardinal bank's model volition use to single-currency stablecoins pegged to the Singaporean dollar oregon immoderate G10 currency.
Issuers of specified stablecoins seeking regularisation successful Singapore indispensable conscionable definite requirements related to worth stability, superior and redemption capitals.
The Monetary Authority of Singapore (MAS) has unveiled its model for regulating stablecoins pursuing a nationalist consultation successful October past year.
The cardinal bank's model volition use to single-currency stablecoins pegged to the Singaporean dollar oregon immoderate G10 currency, which would see the U.S. dollar, the euro and the British lb among others.
Issuers of specified stablecoins seeking regularisation successful Singapore indispensable conscionable definite requirements related to worth stability, superior and redemption capitals, the MAS outlined successful an announcement connected Tuesday.
Stablecoins, for example, indispensable clasp minimum basal superior 1 cardinal Singapore dollars ($740,000) and supply redemption wrong nary much than 5 concern days of a request.
The Singapore affiliate of stablecoin issuer Circle obtained a licence for integer outgo token services from the MAS successful June.
Multiple jurisdictions person oregon are successful the process of establishing regulatory frameworks for stablecoins. In the U.S., a measure for specified a model is currently making its mode done Congress.
Edited by Oliver Knight.
English (US) 