See Local News
Get Balanced News From Your U.S. State.
See Local News
See all locals

Singapore among world's first to agree stablecoin crypto regulation

Posted on AllSides August 15th, 2023
From The Center

Singapore's financial regulator on Tuesday said it had finalized rules for a type of digital currency called stablecoin, putting it among the first jurisdictions globally to do so. Stablecoins are a type of digital currency designed to hold a constant value against a fiat currency. Many claim to be backed by a reserve of real-world assets, such as cash or government bonds. The stablecoin market is valued at around $125 billion, with two tokens — Tether's USDT and Circle's USDC — dominating roughly 90% of the market cap value. But...

Read full story
Some content from this outlet may be limited or behind a paywall.

AllSides Picks

More News about Banking and Finance from the Left, Center and Right

From the Left

From the Center

From the Right