Stablecoin Issuers Told to Start Preparing for 2024 EU Rules
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Issuers of stablecoins should take immediate measures to comply with new European Union crypto regulations that come into effect a year from now, the European Banking Authority said.
The EBA expects issuers of stablecoins — tokens that are pegged to an asset like the US dollar — to have sound governance and effective risk management in addition to proper arrangements for handling redemptions, among other things, the watchdog said in a statement on Wednesday.