Stablecoin

The Monetary Authority of Singapore (MAS) has released a document titled "MAS Finalizes Stablecoin Regulatory Framework." 
MAS's stablecoin regulatory framework will apply to single-currency stablecoins (SCS) issued in Singapore that are pegged to the Singapore dollar or any G10 currency. Issuers of such SCS must meet the following key requirements: 
<ul> 
 <li>Value Stability: The reserve assets of SCS will be subject to requirements regarding their composition, valuation, custody, and auditing to ensure a high level of value stability.</li> 
 <li>Capital: Issuers must maintain minimum basic capital and liquid assets to reduce bankruptcy risk and orderly wind down operations when necessary.</li> 
 <li>Redemption at Face Value: Issuers must refund the face value of SCS to holders within five working days after redemption requests.</li> 
 <li>Disclosure: Issuers must provide appropriate disclosures to users, including information about SCS value stabilization mechanisms, SCS holder rights, and results of reserve asset audits.</li> 
</ul> 
Only stablecoin issuers that meet all the requirements of this framework can apply to MAS to have their stablecoins recognized and labeled as "MAS-regulated stablecoins." 
<img src="https://s2.tokeninsight.com/static/calendar/img20230815030000f1135024-60e7-4af8-882c-665c235d4cd4.jpg"> 
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Singapore's Monetary Authority of Singapore Finalized Stablecoin Regulatory Framework

TokenInsight

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