The Monetary Authority of Singapore (MAS) introduced a regulatory framework for single-currency stablecoins on 15 August to enhance their stability. Non-bank issuers with stablecoins pegged to the Singapore Dollar or any G10 currencies with a circulation of over S$5 million will now fall under its regulatory framework. Key requirements include maintaining value stability, ensuring timely redemption upon request, disclosing audit results to users, and holding a reserve of low-risk assets equivalent to at least 100% of the outstanding stablecoins in circulation. Additionally, they must uphold a minimum base capital higher than S$1 million or half of annual operating expenses.
Source: https://www.reuters.com
