Singapore releases regulatory framework for single-currency stablecoins

FILE PHOTO: A view of the Monetary Authority of Singapore's headquarters in Singapore June 28, 2017. REUTERS/Darren Whiteside/File Photo

SINGAPORE: Singapore's central bank released a regulatory framework on Tuesday intended to bolster the stability of single-currency stablecoins.

The framework will apply to non-bank issuers of single-currency stablecoins pegged to the Singapore Dollar or any G10 currencies where their circulation exceeds S$5 million, said the Monetary Authority of Singapore (MAS).