Singapore Weighs Recognizing Foreign-Regulated Stablecoins under MAS Framework

Cryptocurrency & Free Speech Finance

The Monetary Authority of Singapore (MAS) is reconsidering its earlier restriction on stablecoins issued across multiple jurisdictions, proposing a route for some jointly issued tokens to qualify under its regulatory framework.MAS opened a public consultation on Tuesday, covering legislative amendments to implement its stablecoin framework and additional policy proposals reflecting developments since 2023.Under one proposal, stablecoins jointly issued by a Singapore issuer and a foreign issuer could be regulated under the framework and labeled “MAS-regulated stablecoins,” provided that the associated risks are sufficiently mitigated.MAS is also considering recognizing a limited number of foreign-issued stablecoins regulated under comparable overseas frameworks, citing…

Cryptocurrency & Free Speech Finance

Ethena Expands USDe into Global Payments with New App

Ethena has launched a global money app built around its USDe synthetic dollar, expanding the crypto-native asset into everyday payments, savings and cross-border transfers.According to Tuesday’s announcement, the self-custodial Ethena Pay app allows users to hold USDe through a dollar-denominated balance, earn as much as 6% in annualized rewards and spend funds through a payment card, while supporting fiat onramps.The beta rollout includes 48 countries across Latin America, the Caribbean, Africa, Asia and other regions, though the initial rollout is limited to 400 users, with access set to expand weekly, Ethena said in a Tuesday thread on X. Avalanche will…

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Guidance on public photography should be shared with everyone in the UK not just asylum seekers. Photo: Getty Images for Unsplash+ Asylum seekers in the UK are being misled by the Home Office over laws about photographing people in public places and are being threatened that their asylum claims might be refused and could be kicked out of the country. On 19 August, the Home Office issued a poster entitled “Do not photograph or film people in public” as part of a series of guidance over consequences of behaviour for those seeking asylum. The poster is part of a nine-page booklet that aims to help asylum seekers understand what is expected of them when living in the UK and covers issues such as sexual consent and domestic abuse. The release of the booklet is controversial because the guidance it contains applies to everyone in the UK and not just asylum seekers. Its publication now could be seen as a politically motivated sop to those who want to crack down on all immigration, even though Britain is legally bound to admit genuine refugees. In the introduction, the Home Office says, “We understand that coming to a new country can be difficult, and that laws and customs here may be different from your home country.” The poster says, “In the UK, you should not take pictures or videos of someone without their permission. This includes taking pictures or videos in public spaces, like streets of parks, or in private spaces, like at home.” However, the poster is misleading. There is a common misconception that photographing people in public places without their consent is illegal. It is not. There are some situations where there are restrictions, for example where photography is restricted by law, such as outside military facilities where photography is prohibited because of national security concerns. Photography is also not permitted where an individual has a reasonable expectation of privacy, such as in the changing room of a clothes shop. Many commercial, privately owned spaces also have rules regarding photography. Sheffield’s Meadowhall shopping centre, for example, says filming and photography is not permitted unless authorised. Where there are no restrictions, consent is not required by law but many legitimate street photographers follow codes of conduct where they might seek consent. The Royal Society of Photographers, for example, recommends that “particular care should be taken when photographing children and vulnerable people, with consideration given to consent, safeguarding, privacy and the potential impact of making or sharing an image”. It adds, “Photographers should also consider how images of identifiable people are subsequently used, especially where their use could imply endorsement or raise concerns about commercial exploitation.” Repeated photography of a person without their consent could be illegal if it crosses into harassing behaviour that is likely to cause alarm or intimidation. This is banned by the Protection from Harassment Act 1997. Photographers must also not share pictures of a sexual nature, for example upskirting, without the subject’s permission. This is banned under the Criminal Justice and Courts Act 2015. When asked about the poster, a Home Office spokesperson said: “We expect everyone who comes to the UK to abide by our laws. If they do not, they will face consequences, including the refusal of their asylum claim and removal from the UK.” They added, “These resources were produced for asylum seekers so there can be no possible misunderstanding of what we expect. The poster is designed to communicate two separate messages: Firstly, that individuals should not take photographs of others without their consent. Secondly, that sharing photographs or videos of a sexual nature without someone’s permission is a serious criminal offence.” There are subtle indications that the Home Office knew that what it was publishing was incorrect. Looking at the poster closely, it appears that the word “should” has been added later, suggesting that it previously said “must” – the font used is subtly different (see below). The information contained in a new Home Office poster is incorrect The Home Office did not respond to our request for comment when we asked about this. The spokeperson said of the poster, “It does not suggest that you can go to prison for taking someone’s photo in public.” There are nuances of English grammar at play here. One person who commented on the BPPA’s statement on Instagram said, “It doesn’t say there’s a legal requirement not to? It says you shouldn’t which to be quite frank is good, if simplified, advice for asylum speakers for whom English is not a first language.” However the heading of the poster is unequivocal. It says, “Do not”. Anyone, even those using English as a second language, would be unlikely to misconstrue that. The original wording still appears to be on the Home Office website. In the booklet’s introduction it says: “In the UK, we respect people’s privacy. This means you must not take photographs or videos of someone without their consent.” (emphasis mine). Photographers and photojournalists and their unions have been quick to call on the Home Office to clarify the poster. The British Press Photographers’ Association (BPPA) has commented on the document. It said, “Recently issued Home Office guidance that states permission is needed to photograph people in public is incorrect and harmful. There is no legal requirement to seek permission when photographing in public. The BPPA hopes an immediate correction will be issued.” Séamus Dooley, NUJ assistant general secretary, said: “This communication not only runs the risk of misleading asylum seekers, it could also have serious consequences for our members – particularly photographers and videographers who regularly carry out their work in public places. It also spreads public confusion that could serve to inhibit public interest journalism. Press photographers and other lens-based journalists perform a legitimate and important function in reporting and recording events in public spaces. “The union is very concerned that the spread of inaccurate information around the right to photograph and film people in public without permission could expose our members to increased hostility and harassment as well as wrongful accusations of criminality and unjustifiable stops by the police. This would undermine journalists’ right to report and the public’s right to know. READ MORE

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