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 <p class="is-style-lead">Singapore’s Monetary Authority (MAS) has rolled out a regulatory framework for <a rel="noopener noreferrer nofollow" title="single-currency" href="https://thebittimes.com/tag/single-currency.html">single-currency</a> <a rel="noopener noreferrer nofollow" title="stablecoins" href="https://thebittimes.com/tag/stablecoins.html">stablecoins</a> linked to the Singapore Dollar or other G10 fiat currencies.&nbsp;</p> 
 <p>With this new setup, any token with a circulation value over S$5 million will earn the MAS-regulated stablecoin designation.</p> 
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    <p lang="en" dir="ltr">@MAS_sg has announced the features of a new regulatory framework that seeks to ensure a high degree of value stability for #stablecoins regulated in #Singapore. https://t.co/j12QambGIJ pic.twitter.com/LBUoOGY16P</p>— MAS (@MAS_sg) August 15, 2023 
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 <p>While Singapore currently hosts only one stablecoin, this regulatory stride supports its broader objective of fostering digital asset innovation and ensuring its stability.</p> 
 <p>The MAS believes that, with proper regulation to ensure value stability, stablecoins can enable innovative methods like on-chain digital asset trading.</p> 
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 <h2 class="wp-block-heading" id="singapore-s-crypto-regulations">Singapore’s crypto regulations</h2> 
 <p>With the global <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> market forecasted to jump from $125 billion to $2.8 trillion in the next half-decade, nations like Singapore and the US are establishing pre-emptive <a rel="noopener noreferrer nofollow" title="regulation" href="https://thebittimes.com/tag/regulation.html">regulation</a>s.</p> 
 <p>MAS’s guidelines for <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> issuers include maintaining value stability, possessing adequate reserves for redemptions, and transparently presenting audit results. Issuers must hold liquid assets equal to the total <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> supply and set aside more than S$1 million or a minimum of 50% of annual operational expenses.</p> 
 <p>With its progressive crypto regulatory landscape, Singapore stands out in Asia’s crypto scene, attracting investors and businesses. A Gemini and CoinMarketCap survey reveals that two-thirds of Singaporeans hold crypto assets, with a significant proportion among the younger demographic heavily invested in crypto.</p> 
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 <p>Despite potential regulatory worries, the MAS’s approach remains fairly open, with the body still evaluating the crypto sector. The crypto-centric company, Babel Asia, plans to tap into Singapore’s flourishing crypto acceptance, ensuring adherence to regulations and leveraging the nation’s robust legal and wealth management sectors.</p> 
 <p>However, with instances of counterfeit crypto schemes targeting locals, the MAS encourages investor vigilance, emphasizing their dedication to thwarting crypto scams.</p> 
 <p>In conclusion, Singapore’s blend of a liberal crypto outlook, stringent regulations, and financial credibility makes it a decent choice for crypto ventures and enthusiasts. </p> 
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Singapore introduces regulations for single-currency stablecoins

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