The Monetary Authority of Singapore (MAS) aims to publish cryptocurrency and stablecoin consultations feedback by the middle of this year, it said Monday.
The feedback will follow the central bank’s two consultation papers published in October that sought response on proposed regulatory measures to protect consumers from risks of trading in crypto and to support development of stablecoins.
Proposed regulatory measures for crypto service providers included banning the use of credit facilities and leverage by retail consumers for trading.
For stablecoins, MAS intends to regulate the issuance of single currency-pegged stablecoins with over S$5 million (US$3.7 million) worth in circulation. MAS also plans to allow Singapore banks to issue such stablecoins.
All Comments