According to MAS’s release dated Aug 15, this framework will facilitate the use of stablecoins as a credible digital medium of exchange, and a bridge between the fiat and digital asset ecosystems.
The Monetary Authority of Singapore (MAS) has finalised its regulatory framework for stablecoins, following a public consultation last October.
This framework seeks to ensure a high degree of value stability for stablecoins regulated in the city-state, and will apply to single-currency stablecoins (SCS) pegged to the Singapore dollar of any G10 currency that are issued in Singapore. Stablecoins are digital payment tokens (DPT) that maintain a constant value under one or more specified fiat currencies.
