US Treasury, Singapore Discuss Stablecoin Cooperation at APEC Summit
- Main discussion focused on stablecoin regulation and cooperation.
- Potential rise in USD-backed stablecoins.
- Strengthens digital asset policy alignment.
The U.S. and Singapore are advancing in stablecoin regulation collaboration. Treasury Secretary Scott Bessent and Prime Minister Lawrence Wong emphasized shared priorities at the APEC 2025 summit, focusing on compliant crypto innovation and digital asset policy.
Scott Bessent, U.S. Treasury Secretary, and Singapore PM Lawrence Wong discussed stablecoin regulation during the APEC Summit .
The meeting signifies a strategic alignment between U.S. and Singapore on compliant crypto innovation, influencing market enthusiasm and regulatory clarity.
The U.S. Treasury Secretary highlighted the meeting’s importance, noting the global potential of stablecoins. Singapore, described as an emerging hub, has issued 13 Major Payment Institution licenses. This reflects its open stance towards digital assets regulation and stablecoins.
“Stablecoins represent a revolution in digital finance. The dollar now has an internet-native payment rail that is fast, frictionless, and free of middlemen. This groundbreaking technology will buttress the dollar’s status as the global reserve currency…”
Singapore PM Lawrence Wong, representing the nation at the summit, is recognized for his leadership in digital assets in Asia-Pacific . Stablecoin policies were emphasized as a core part of the discussions, illustrating a mutual interest between the countries.
The discussions may increase demand for U.S. Treasuries and affect on-chain stablecoin flows . The meeting set a precedent for cooperation on digital asset innovation and related financial regulations.
Following regulatory developments, the GENIUS Act was mentioned as a foundational component in achieving regulatory clarity. Singapore’s crypto-friendly policies and historical collaboration with the U.S. could lead to significant advancements in the digital finance space.
The potential cooperation between the two nations could lead to significant financial and technological outcomes. Analysis suggests that stronger, clearer guidelines on stablecoins could bolster economic opportunities and technological innovation within their jurisdictions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AiCoin Daily Report (November 2)
Crypto Enthusiasts React Strongly as ECB’s Digital Euro Project Progresses Further
Concerns Rise Over Privacy Protections and Democratic Oversight as ECB's Digital Euro Enters Pilot Phase
From LRT Protocol to Decentralized Infrastructure Provider: How Does Puffer Align with the Ethereum Ecosystem?
Puffer has consistently adhered to principles aligned with Ethereum in its design and product evolution, demonstrating support for Ethereum's long-term vision.
Awakening 26-Year-Old Dormant Code: Is x402 a Bridge Between Web2 and Web3, a Technological Singularity or a Meme Frenzy?
This "reactivation" of the underlying internet protocol standards—can it become the key to bridging the gap between "convenience" and "openness"?
