Singapore central bank proposes measures on crypto trading, stablecoin

FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration

SINGAPORE (Reuters) - Singapore's central bank has put forward proposals for new regulatory measures on cryptocurrency trading and stablecoins, in a bid to reduce the risk of consumer harm from the volatility of the industry.

The measures published in two consultation papers on Wednesday include not allowing businesses to lend out cryptocurrencies owned by retail customers, and to ensure customer assets are segregated from their own assets.