Singapore to label regulated stablecoins in transparency push

Issuers must meet criteria on value stability, minimum capital, others

20230815 Singapore MAS

New rules governing stablecoins highlight Singapore's efforts to improve regulatory oversight while spurring innovation in the Asian financial hub. © Reuters

TSUBASA SURUGA, Nikkei staff writer

SINGAPORE -- Singapore plans to label so-called stablecoins, or cryptocurrencies pegged to legal tender, for issuers who meet regulatory criteria, as it works to bring greater transparency and stability to the fast-growing industry.

The Monetary Authority of Singapore (MAS), the country's central bank and financial watchdog, laid out a new regulatory framework on Tuesday, following a feedback-gathering exercise that began in October last year.

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