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The growing adoption of stablecoins across Asia marks a significant shift in the regions financial landscape. dollar-pegged stablecoins like USDT and USDC primarily dominate the cryptocurrency topography. Operating on Ethereum and other blockchain networks, XSGD boasts a market cap exceeding $18 million. With a market cap of $4.8
2024 reshaped payments with instant payment mandates, crypto regulations, and enhanced consumerprotection driving innovation and security. In 2024, payments regulation underwent seismic shifts, with reforms spanning fraud prevention, digital innovation, and consumerprotection, collectively redefining the industry’s future.
When consulting on the VATP regime, the SFC and FSTB concluded that regulating VA exchanges was a priority whereas OTC trading activity was omitted on the basis that it was not a material consumerprotection risk at that time. Certain regulated entities exempted.
Understanding use cases: From stablecoins to tokenisation While De-Fi discussions often focus on theoretical concepts, several tangible use cases illustrate its practical applications in the payments industry. Among the most prominent are stablecoins and the tokeni s ation of traditional financial instruments. billion in May 2022.
Immediate focus areas include fraud prevention, ISO 20022 readiness, and stablecoin regulationbut longer-term success depends on active engagement with consultations, operational resilience, and global alignment. It mirrors existing offences in anti-bribery and tax evasion, but with a sharper focus on consumerprotection and market integrity.
Bitcoin, Ethereum, Binance Coin, and several others remain the largest by market cap. Other key factors include: ConsumerProtection : Most credit cards come with fraud protection and the ability to dispute charges, building trust among users. However, concerns over personal debt and hidden charges linger.
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