A new regulatory framework for single-currency stablecoins (SCS) in Singapore has been published by the country's central bank.

On August 15th, the Monetary Authority of Singapore announced a framework for stablecoins with a circulation of more than SGD 5 million ($3.7 million) that are not issued by banks but are pegged to the value of the Singapore dollar or G10 currencies like the euro, British pound, and US dollar.