Singapore among world's first to agree stablecoin crypto regulation

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...