Crypto
Singapore Cracks Down on Stablecoin Yield Products
Singapore is moving to ban stablecoin-yield offerings in its regulatory push, according to Yahoo Finance. The Monetary Authority of Singapore (MAS) may require licensed digital payment token service providers to keep yield-generating stablecoin products away from Singapore-based customers.
This reported measure would represent a decisive regulatory move against interest-bearing digital-asset offerings in a major Asian financial center.
The MAS has previously introduced a regulatory framework for stablecoin issuers in the country, including licensing criteria and reserve-management expectations.