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Singapore weighs bringing some foreign stablecoins into its rules

The proposal would shift Singapore’s stablecoin framework from restricting issuance to domestic tokens, toward allowing jointly issued cross-border stablecoins.

Reported · Written up by our desk · Regulation

Singapore is considering changes to its stablecoin regulatory approach that could allow some foreign-issued tokens into the country’s framework, according to Cointelegraph.

The discussion centers on whether jointly issued cross-border stablecoins should be recognized under Singapore’s rules, instead of limiting the regime to domestic issuance.

Cointelegraph reports that this follows Singapore revisiting an earlier decision that restricted the regulatory framework to stablecoins issued within Singapore.

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