Singapore Central Bank Proposes Stablecoin Rules to Reign in Crypto Sector

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The rules, which were published on Wednesday, come after a turbulent year for crypto markets. The downturn is particularly frustrating for Singapore regulators, as a number of collapsed multi-billion dollar crypto enterprises like stablecoin issuer Terraform Labs and crypto hedge fund Three Arrows Capital have ties to the country. The MAS had since promised to tighten regulations for the sector.

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