Odaily News The Monetary Authority of Singapore stated that only fully regulated and reserve-backed stablecoins can be used as settlement assets, while unregulated stablecoins have a mixed record in maintaining their pegs. In addition, Singapore is preparing legislation to expand the pilot scope of Central Bank Digital Money. (Cointelegraph)
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The Monetary Authority of Singapore warns that unregulated stablecoins will pose systemic risks.
Odaily News The Monetary Authority of Singapore stated that only fully regulated and reserve-backed stablecoins can be used as settlement assets, while unregulated stablecoins have a mixed record in maintaining their pegs. In addition, Singapore is preparing legislation to expand the pilot scope of Central Bank Digital Money. (Cointelegraph)