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Singapore: New single-currency stablecoin regulatory framework

Money LaunderingSingapore: New single-currency stablecoin regulatory framework

In brief

On 15 August 2023, the Monetary Authority of Singapore (MAS) announced the features of a new regulatory framework for single-currency stablecoins (SCS) that are issued in Singapore and pegged to the Singapore dollar or Group of Ten (“G10“) currencies (“SCS Framework“). The SCS Framework takes into account the feedback that the MAS received following a public consultation paper published in October 2022, and the MAS has issued response to feedback on the same.

We highlight some key features of the SCS Framework below.
Click here to read the full alert.

Story from www.globalcompliancenews.com

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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