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MAS Warns Unregulated Stablecoins Pose Systemic Risk, New Regulations Incoming
BlockBeats News, November 13, according to Cointelegraph, the Monetary Authority of Singapore stated that only fully regulated, reserve-backed stablecoins can be used as settlement assets. Unregulated stablecoins have a mixed track record in maintaining their peg. Additionally, Singapore is preparing legislation and expanding the pilot scope of central bank digital currency.
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