Singapore to label regulated stablecoins in transparency push

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.