The Monetary Authority of Singapore (MAS) has recently launched a new regulatory framework for stablecoins in the country. The framework aims to promote strong value stability of these digital assets, and it applies to all issuers, blockchain platforms and intermediaries dealing with Singapore dollar-backed stablecoins. It also sets out the requirements for these entities to obtain a license from the MAS, which includes the need for an audited annual financial statement and data on the assets backing the stablecoin. MAS said that this new regulatory framework is necessary to encourage the growth of Stablecoins while protecting against potential risks.
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