Singapore Passes a Legislation for Stablecoins

Singapore, on of the centers of global financial system, passed an important legislation regarding stablecoins and how they should be structured to remain legal in the country.

 

Stablecoins are usually holding a stable price and have reserves in another asset, whom they represent their nominal value.

 

Now, there’s a new legislation. Stablecoins should hold their reserves in other assets that are low-risk and retain high liquidity. In parallel, the reserves should be equal or more from the circulating tokens so there will always coverage for the users.

 

At this moment, the stablecoin market lays arounf $125 billion, while the 2 largest coins are USDT (Tether) and USDC (Circle), that hold around 90 % of the market.

 

We wait to see what other countries will do…….

 

Our company, BCASH™, is a licensed Greek company by the Hellenic Capital Market Commission (exchange license) and manufactures/operates cryptocurrency ATMs throughout Greece. One of the locations is at Santorini, Greece, while you can find all the locations where our ATMs are placed at https://bcash.eu/en/locations

 

Almost all of the spaces are private and autonomous with high-security standards. Most of the locations offer free wireless internet connection.

 

At BCASH™ ATMs, you can buy and sell cryptocurrencies at the best market rate, such as Bitcoin | Ethereum | USDT | Litecoin | Dash | XRP | XLM.

 

If you have any questions, you can contact our customer support service at +30 6987812000 & +30 6998499499 (Viber, Whatsapp, Telegram supported).