Monetary Authority of Singapore
The Monetary Authority of Singapore has finalised rules for regulating stablecoins, under which issuers must fully back their coins with liquid assets at all times and meet redemption requests within five business days.
The central bank published the new regulatory framework on August 15, after conducting a public consultation in October 2022. Parliament will have to amend existing laws to bring the new rules into force.
The framework will apply to non-bank issuers of single-currency