Singapore proposes 100% reserves requirement and yield ban for stablecoin issuers
Source Summary
Singapore's financial regulator has proposed new stablecoin rules requiring issuers to maintain 100% reserves and prohibiting yield generation. The watchdog states that the proposed framework aligns with U.S. and EU regulatory approaches and enables recognition of foreign stablecoins.
Why it matters
The proposal establishes Singapore's regulatory stance on stablecoins and creates a framework for both domestic and foreign stablecoin operations in the jurisdiction.
