World · Regulation · Singapore ·
Singapore opens path to recognize foreign-issued stablecoins
Singapore's financial regulator proposed allowing cross-border stablecoins issued jointly with foreign regulators into its regulatory framework, reversing an earlier restriction to domestic issuance only. The rules also mandate 100% reserves and ban yield-bearing products.
Why it matters for the crypto market
Singapore's move to accept foreign stablecoins aligns it with US and EU frameworks and signals willingness to facilitate cross-border crypto payments infrastructure.
Source: CoinDesk
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