Singapore Wins Praise From U.S. Treasury Over Stablecoin Push

TLDR:

• U.S. Treasury Bessent praised Singapore’s adoption of regulated stablecoins during his APEC meeting with Prime Minister Lawrence Wong.
• The U.S. Treasury highlighted Singapore’s growing integration of digital assets within a compliant financial system.
• Talks included cooperation on blocking illicit crypto activity and enforcing energy sanctions against sanctioned states.
• The meeting reinforced U.S.-Singapore alignment on blockchain innovation and responsible crypto market regulation.

Singapore’s digital finance model is drawing praise from top U.S. officials. 

During the APEC 2025 meetings in Gyeongju, Treasury Secretary Scott Bessent acknowledged Singapore’s progress in embracing digital assets and stablecoins. The talks centered on shared financial goals, regional cooperation, and the growing role of blockchain-backed payment systems. 

Both sides also addressed the global fight against illicit financial networks and energy trade sanctions. The meeting underscored how crypto and regulation are now key parts of international economic dialogue.

U.S. Treasury Recognizes Singapore’s Stablecoin Efforts

According to a U.S. Treasury readout released, Bessent and Prime Minister Lawrence Wong discussed the evolving digital asset landscape. The Secretary recognized Singapore’s growing role in adopting U.S. dollar-based stablecoins and integrating them into regulated payment frameworks.

He noted the country’s success in encouraging blockchain innovation while maintaining strict compliance standards. The U.S. has shown interest in how Singapore balances innovation and oversight in its financial system. Bessent’s remarks reflected a broader U.S. effort to align with responsible global partners in the crypto economy.

Singapore’s monetary authorities have positioned stablecoins as a bridge between traditional banking and decentralized finance. 

Local banks have tested blockchain settlement systems, while regulated stablecoin issuers continue to expand. The model now serves as a blueprint for other jurisdictions exploring asset-backed digital currencies.

Bessent also praised Singapore’s sovereign funds for their ongoing investments in the U.S., calling them essential to economic ties between the two nations. The cooperation reinforces how traditional and digital finance can work in tandem within global markets.

Crypto Cooperation and Cross-Border Policy Alignment

Beyond digital assets, both officials discussed joint efforts to combat financial crimes. Bessent thanked Singapore for supporting investigations tied to transnational crime groups operating across Asia. He emphasized the importance of real-time data sharing in tracing illicit crypto flows.

The meeting also touched on ongoing restrictions related to Russian and Iranian oil purchases. Bessent stressed continued vigilance among U.S. allies in enforcing sanctions that affect global energy markets.

Singapore’s transparent approach to digital regulation has drawn international respect. 

The city-state’s framework for stablecoins, introduced earlier this year, focuses on liquidity, full backing, and consumer protection. Those principles align closely with U.S. Treasury priorities in preventing systemic risk from unregulated digital currencies.

According to the readout, the dialogue reflected a shared vision for secure digital finance that supports both innovation and enforcement. The Treasury’s acknowledgment marks a new chapter in how Washington views responsible crypto adoption across Asia.

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