Singapore’s central financial institution, the Financial Authority of Singapore (MAS), has launched a brand new regulatory framework for stablecoins, digital tokens pegged to a single forex. Below the brand new guidelines, stablecoin issuers should adjust to anti-money laundering and counter-terrorism financing legal guidelines, put client safety measures in place, and be licensed to function in Singapore. The MAS stated the transfer would guarantee regulatory readability and scale back dangers to shoppers. Stablecoin issuers can choose to use for a license or function unlicensed, however they won’t be allowed to supply their tokens in Singapore. Different international locations, just like the US and EU, have additionally launched regulatory frameworks for stablecoins.