Digital tokens and customer protections - Stablecoins (Part 2)

13 October 2023

Allen & Gledhill Partner Adrian Ang and Associate Alexander Fong contributed an article titled “Digital tokens and customer protections - Stablecoins (Part 2)” to Bits & Bytes, a monthly online bulletin hosted on the website of the Centre for Technology, Robotics, Artificial Intelligence and the Law (TRAIL) at the Faculty of Law, National University of Singapore.

The first article of a two-part series focused on regulatory developments in Singapore specific to “cryptocurrencies” (under Singapore law, generally “digital payment tokens” (“DPTs”)), including recent proposals by the Monetary Authority of Singapore (“MAS”) relating to customer protection requirements and the integrity of the DPT market.

This second article delves deeper into the proposals by the MAS on the stablecoin regulatory framework in Singapore, and the operation of the Financial Services and Markets Act 2022.