Forwarded from Gong Jiao Wei 巩娇玮
The changes include allowing for stablecoin issuers to segregate customers’ stablecoins in either financial institutions licensed in Singapore or overseas-based custodians, with a minimum credit rating of “A-”.
These custodians must also have a branch in Singapore regulated by MAS to provide custodial services.
The changes add on to a set of requirements already proposed in the October consultation last year. These stipulate that stablecoin issuers, who wish to be “MAS-regulated”, must submit independent attestations of their reserves on a monthly basis to the central bank and upload them on their website.
They must also submit an audited report annually and have at least reserves equivalent or more than par value of its stablecoin in circulation at all times, valued on a mark-to-market basis daily, among others.
https://www.businesstimes.com.sg/wealth/mas-revises-stablecoin-regulatory-framework-prepares-industry-consultation
These custodians must also have a branch in Singapore regulated by MAS to provide custodial services.
The changes add on to a set of requirements already proposed in the October consultation last year. These stipulate that stablecoin issuers, who wish to be “MAS-regulated”, must submit independent attestations of their reserves on a monthly basis to the central bank and upload them on their website.
They must also submit an audited report annually and have at least reserves equivalent or more than par value of its stablecoin in circulation at all times, valued on a mark-to-market basis daily, among others.
https://www.businesstimes.com.sg/wealth/mas-revises-stablecoin-regulatory-framework-prepares-industry-consultation
The Business Times
MAS revises stablecoin regulatory framework, prepares for industry consultation
THE Monetary Authority of Singapore (MAS) on Tuesday (Aug 15) revised its stablecoin regulatory framework, as it aims to maintain a higher degree of stability within stablecoin issuers.
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Crypto Mumbles
also invested a small amount in hazy wallet pre-sale as a small bet into the privacy narrative running in the future no product yet, v early stages in fact set to launch in q4 2023 but then again i think if the privacy narrative were to come again it will…
team didn't meet their raise target and fully refunded all investors that took part in the pre-sale
if you did participate you should've received your refund as i did
bit of a pity i was excited for this proj
if you did participate you should've received your refund as i did
bit of a pity i was excited for this proj
Forwarded from unfolded. DeFi
Meme coin Base DEX RocketSwap hit by $866K exploit — link
unfolded. DeFi
Meme coin Base DEX RocketSwap hit by $866K exploit — link
cursed chain fr
first leetswap then rocketswap
first leetswap then rocketswap
Crypto Mumbles
HMX i'm thinking indirect exposure might not be enough anymore might be time to chase dips and hodl til next year just a matter of when the first retrace is i'll be happy to enter @ $8 - $10
wtf hmx
need some cope
i am bullish hmx but i didn't think it'll run that fast
ngmi
need some cope
i am bullish hmx but i didn't think it'll run that fast
ngmi
Crypto Mumbles
https://twitter.com/DaanCrypto/status/1691413493335941121
btc dumped slightly while btc.d pumped back into trendline leading to a big nuke for alts
most of my shorts reached their targets (left bnb cause i wanna run it down as far as i can)
cfx stopped in profit, pepe got tapped out SL 😩
my itchy hand tried to catch the drop on doge and ended up returning some profits 🤡
edit: will re-enter doge if it doesn’t lose 0.07 which is a pretty key level
short is still the way rn until proven otherwise, will look for the next entry on weaker alts
idt any specific news caused this drop, just some big players coming in to short the market ^
most of my shorts reached their targets (left bnb cause i wanna run it down as far as i can)
cfx stopped in profit, pepe got tapped out SL 😩
my itchy hand tried to catch the drop on doge and ended up returning some profits 🤡
edit: will re-enter doge if it doesn’t lose 0.07 which is a pretty key level
short is still the way rn until proven otherwise, will look for the next entry on weaker alts
idt any specific news caused this drop, just some big players coming in to short the market ^