The submit Singapore Introduces New Regulatory Framework for Stablecoins! appeared first on Coinpedia Fintech Information
The Financial Authority of Singapore (MAS) has not too long ago launched a brand new regulatory framework for stablecoins within the nation. The framework goals to advertise robust worth stability of those digital property, and it applies to all issuers, blockchain platforms and intermediaries coping with Singapore dollar-backed stablecoins. It additionally units out the necessities for these entities to acquire a license from the MAS, which incorporates the necessity for an audited annual monetary assertion and knowledge on the property backing the stablecoin. MAS mentioned that this new regulatory framework is critical to encourage the expansion of Stablecoins whereas defending in opposition to potential dangers.
