In this first June edition of crypto regulatory affairs, we will cover:
New York and European supervisors to collaborate on stablecoin oversight
The New York Department of Financial Services (NYDFS) and the European Banking Authority (EBA) have entered into a memorandum of understanding (MOU) to allow them to exchange information on stablecoins.
The joint MOU, announced on June 2, reflects the growing focus that financial supervisory agencies are placing on the oversight of global and rapidly expanding stablecoin markets.
The NYDFS and EBA each have oversight responsibility for stablecoin issuers operating in their respective jurisdictions. In New York state, NYDFS regulates the activities of stablecoin issuers and other virtual…
