The European Banking Authority (EBA) and the New York State Department of Financial Services (NYDFS) have signed a memorandum of understanding to enhance the supervision of cross-border stablecoin activities, share information on market trends and risks, and coordinate efforts during crises.
The European Banking Authority and the New York State Department of Financial Services have signed a memorandum of understanding to enhance supervision and information exchange on cross-border stablecoin activities, aiming to promote market integrity and coordinate responses to crises.
New York's NYDFS and the EU's EBA signed an MOU to share information on the $314 billion stablecoin market, aiming to enhance oversight, identify risks, and coordinate responses during crises. This collaboration addresses concerns about stablecoin runs and dollar dominance in the sector.
Mastercard obtains NYDFS BitLicense, reinforcing its compliance-driven approach to integrating stablecoins and digital assets into traditional banking, amid aggressive investment in crypto infrastructure.
Galaxy Digital's subsidiary, GalaxyOne Prime NY, has obtained a BitLicense and Money Transmission License from the NYDFS, enabling regulated digital asset services for institutional clients in New York.
