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MAS Proposes Standards for Digital Money
The Monetary Authority of Singapore (MAS) today published a whitepaper proposing a common protocol to specify conditions for the use of digital money such as central bank digital currencies (CBDCs), tokenised bank deposits [1] , and stablecoins on a distributed ledger. The whitepaper was supported by the release of software prototypes that demonstrate the concept of Purpose Bound Money (PBM), which enables senders to specify conditions, such as validity period and types of shops, when making transfers in digital money across different systems. The whitepaper, which was developed in collaboration with the ... (full story)