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Singapore proposes common protocol for digital currencies

SINGAPORE, June 21 (Xinhua) — The Monetary Authority of Singapore (MAS) on Wednesday released a white paper proposing a common protocol for the use of digital currencies, including central bank digital currencies, stablecoins, and tokenized bank deposits on a distributed ledger.

The white paper was developed with input from the International Monetary Fund, Bank of Italy, Bank of Korea, financial institutions,