🚀 Singapore is the new crypto hub with its stablecoin regulation 🚀

[finkiwi]

Singapore has just made a huge move for the crypto industry by releasing a revised regulatory framework for single-currency stablecoins (SCS) on August 15, 2023 . This is a game-changer for the crypto space, as it shows that Singapore is not only supportive of innovation and adoption of digital assets, but also mindful of consumer protection and financial stability. By setting clear and reasonable requirements for SCS issuers, such as value stability, capital, redemption at par, and disclosure, Singapore is creating a fair and competitive environment for SCS to thrive alongside other digital payment tokens and fiat currencies. This will boost the confidence and trust of users and investors in SCS, and encourage more use cases and applications of stablecoins in the region and beyond. I think Singapore is leading the way for stablecoin regulation, and I hope other countries will follow suit. #Singapore #Stablecoin #Crypto