Singapore’s central bank plans to trial tokenized bills and introduce regulations for stablecoins. This initiative aims to enhance the efficiency of the financial system. The Monetary Authority of Singapore (MAS) is exploring the use of digital tokens for various financial instruments. The trial will assess the potential benefits and challenges of implementing these technologies in the local market. Additionally, the MAS is working on establishing a legal framework for stablecoins to ensure their safe and effective use. This regulatory approach is intended to foster innovation while safeguarding the financial ecosystem.
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