NYDFS and EU Banking Authority Sign Agreement to Cooperate on Stablecoin Oversight
By
André Beganski
Properly proved. Has structure, has flavour, has a point.
Summary
The New York Department of Financial Services (NYDFS) and the European Banking Authority (EBA) have signed a 22-page memorandum of understanding to collaborate on stablecoin regulation. The agreement establishes procedures for sharing supervisory and confidential information to enhance oversight of the $314 billion stablecoin sector, identify market trends and risks, and promote market integrity. This transatlantic partnership marks a significant step toward coordinated global stablecoin regulation.
Key quotes
· 1 pulledIn a statement, the NYDFS described the measure as an effort to enhance oversight, identify market trends and risks, and promote market integrity.
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