Singapore’s financial regulator is experimenting with a range of CBDC development projects alongside creating a regulatory approach to stablecoins, but the final role of both CBDCs and stablecoins within the Singaporean economy remains to be confirmed. 

Recent bank failures in the US and the demise of Credit Suisse have prompted the Basel Committee on Banking Supervision to review the Basel III package, but this is unlikely to affect the implementation dates, says a source close to the BCBS. 

The proposed framework is notable for its “measures-based approach” for industrial activities and its traffic light ratings system.