US Treasury Secretary Scott Bessent strongly commended Singapore’s progress. Specifically, he praised their leadership in stablecoin adoption at the APEC 2025 summit.
US Treasury Secretary Scott Bessent praised Singapore’s leadership. Specifically, he paid attention to their progress in the adoption of stablecoins. In addition, the Secretary praised their method of digital assets. Furthermore, this praise was given at a meeting held on a Friday. Consequently, Bessent consulted Prime Minister Lawrence Wong. Thus, an official readout confirmed the details of this meeting. Indeed, the information was directly from the US Department of the Treasury.
Secretary Bessent Highlights Shared US-Singapore Financial Priorities
Additionally, there was an official discussion at the APEC 2025 summit. Consequently, the major forum took place in South Korea in Gyeongju. World leaders were genuinely meeting at this time. Moreover, they discussed such critical issues as global growth. Furthermore, energy security and technology were other important topics. So, Secretary Bessent met with Prime Minister Wong to discuss key shared priorities. Indeed, this points to the strong bilateral partnership.
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Secretary Bessent also made positive observations on Singapore’s long history. Specifically, the two sovereign funds invest a lot in the United States. Therefore, the Secretary acknowledged Singapore’s continued efforts. Moreover, these efforts are aimed at a greater adoption and use. As a result, this includes digital assets and U.S. dollar stablecoins. Thus, the public commendation reinforces the vital importance of Singapore. Indeed, they represent a financial hub for Asia.
Furthermore, Secretary Bessent thanked Prime Minister Wong. Specifically, he expressed his gratitude to him for the cooperation of Singapore. Consequently, this vital co-operation is with the United States Treasury. In addition, it focuses on organized crime groups. In addition, the Secretary very much stressed the need for continued cooperation. Therefore, this effort is aimed at stopping purchases. Specifically, it looks to prevent Russian and Iranian oil deals.
U.S. Treasury Recognizes Singapore as Model for Stablecoin Regulation
Scott Bessent was in attendance at the APEC forum. As a result, he discussed the economic policy of the U.S. with other countries. Moreover, his public pronouncements centered mainly on the trade policy of the U.S. Furthermore, he wanted to find a way of successfully balancing relationships with trading partners. Thus, there were other reports of bilateral meetings by specific countries and trade deals.
Indeed, Bessent has been a very vocal stablecoin supporter for the entire year 2025. Consequently, he mentioned its potential to succeed in enhancing dollar dominance. Furthermore, he argued that it could help to pay for the US deficit. Moreover, he stood strongly in favour of the GENIUS Act. Specifically, such legislation creates a crucial regulatory framework. Thus, related stablecoin legislation was passed in mid-2025.
Singapore’s Monetary Authority of Singapore (MAS) has been active. Specifically, they are improving their crypto regulatory regime. As a result, this contains specific rules for stablecoins. Therefore, as of mid-2025, strict requirements have been implemented in Singapore. In addition, these mandates include licensing and reserve support of stablecoins.
Ultimately, the official readout validates the commendation being made during the meeting. As a result, this adds to the emphasis the United States has on regulated digital assets. Moreover, the US Treasury recognizes friendly nations that are advancing the technology. Furthermore, this partnership is essential in keeping the dollar stable around the world. Thus, the stablecoin framework fortifies the whole digital economy. Indeed, the model of Singapore is a reference point for others.
