Financial Regulation
EU & NY Regulators to Cooperate on Stablecoin Oversight
The European Banking Authority (EBA) has signed a Memorandum of Understanding with the New York State Department of Financial Services. This agreement establishes a framework for cooperation and information sharing on the supervision of crypto-assets, particularly stablecoins. The partnership is a direct result of the EU's Markets in Crypto-Assets Regulation (MiCA) and aims to ensure consistent global oversight of major stablecoin issuers. This move is expected to enhance financial stability and protect consumers in the digital asset market.
EU and US regulators are teaming up to supervise global stablecoins, strengthening crypto market oversight.