EBA and NYDFS sign a landmark MoU on Stablecoins to strengthen cross-border oversight, information sharing, and regulatory cooperation against FC and emerging crypto risks

The MoU establishes a framework for the EBA and New York State Department of Financial Services to exchange supervisory and confidential information on stablecoin-related activities, co-ordinate oversight of supervised entities, identify market trends and risks, and support the integrity of the stablecoin market. It applies only to stablecoin activities, reflecting the growing cross-border importance of stablecoin issuers and the need for closer supervisory alignment between the EU’s MiCA framework and New York’s established stablecoin regime…