MAS supports PFMI monitoring for systemic stablecoins
Assistant managing director says potential for ‘crisis of confidence’ is embedded within instruments
Stablecoins should be assessed for their systemic importance under internationally agreed standards, an assistant managing director of Singapore’s central bank has said.
Speaking at the International Monetary Fund’s Spring Meetings on April 13, Tuang Lee Lim of the Monetary Authority of Singapore (MAS) said it would be important for regulators to begin monitoring stablecoins that could pose financial stability risks. This monitoring process should ensure the instruments complied with the
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