Singaporean financial watchdog to consult public on stablecoin regulation

Singaporean financial watchdog to consult public on stablecoin regulation

The financial regulator admits it’s high time to shift the focus from the KYC/AML issues to more nuanced risks, poised by stablecoins. The Monetary Authority of Singapore (MAS), a city-state’s principal financial regulator, assesses the merits of a regulatory regime toward stablecoins. Current guidelines focus on Know Your Customer (KYC) and Anti-Money Laundering (AML) issues and do not reflect the specific risks to which the stablecoins are entitled. On Monday, the MAS official portal published a written response by the regulator’s head, Tharman Shanmugaratnam, to a question posed by one....


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