Singapore’s financial regulator has introduced regulations for stablecoins, making it one of the early global adopters. Stablecoins maintain a fixed value against fiat currency, often claiming to be backed by real-world assets. This market is valued at about $125 billion, with Tether’s USDT and Circle’s USDC dominating. However, stablecoins are largely unregulated globally. The Monetary Authority of Singapore (MAS) now mandates that reserves behind stablecoins must be low-risk, exceeding their value, and issuers must return the digital currency’s par value within five business days of redemption. Stablecoins meeting these criteria will be recognized as “MAS-regulated stablecoins.” The framework aims to enhance transparency and clarity in the industry.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}