NY Tackles Reserves, Redemption In Stablecoin Guidance

New York Department of Financial Services (NYDFS) recently published guidance for the issuance of U.S. dollar-backed stablecoins in the state of New York. Institutions seeking to issue U.S. dollar-backed stablecoins are required to meet new reserve, redeemability, and audit requirements. Review this article to gain an understanding of the new guidance and what that means for your institution.

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