ICYMI: New York’s financial regulator issues new guidance on dollar-backed stablecoins
The New York Department of Financial Services has issued new compliance requirements for issuers of US dollar-backed stablecoins.The New York Department of Financial Services today became the first
builds on informal policies used by the DFS since 2018, setting “baseline requirements” for any stablecoin issuer currently subject to DFS oversight, and any firm that applies to be regulated in the future.creates clear criteria for virtual currency companies looking to issue USD-backed stablecoins in New York," according to Adrienne Harris, the state's Superintendent of Financial Services.
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