Management Changes at FOZL Assurance PAC
2023-08-22
Singapore’s core inflation rate for July 2023 decreased to 3.8%
2023-08-28
On August 15, 2023, the Monetary Authority of Singapore (MAS) announced the features of a new regulatory framework that seeks to ensure a high degree of value stability for stablecoins regulated in Singapore. The regulatory framework takes into account feedback received, following an October 2022 public consultation.
The stablecoins issued in Singapore can be pegged only to the Singdollar or any Group of 10 currency, including the United States dollar and Japanese yen, said the Monetary Authority of Singapore (MAS).
Issuers’ valuation of their reserve assets has to be at least 100 per cent of the outstanding single-currency stablecoins (SCS) in circulation at all times. Reserve assets, to be denominated in the same currency as the peg, must be held in cash, cash equivalents or in three-month Singapore government bonds.
FOZL Group provides one-stop corporate services to local and overseas companies, currently serving over 1,000 companies in Singapore. FOZL assist clients to register Singapore companies, and provide Accounting, Annual Return, Auditing, Tax Declaration, Trademark Registration, applying for Investment Promotion Policies, Corporate Advisory, Private Client Consultancy, establishing Family Offices and providing serviced office solutions for enterprise.
If you would like to learn more, please feel free to contact us, and we will be happy to assist you.
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