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Coinnounce 2022-06-11 05:35:48

Stablecoins ‘Must Be Fully Backed by a Reserve of assets,’ Says New York Regulator

New York’s financial services regulator has published new guidance on stablecoins, outlining what the state expects from issuers. Stablecoins must be fully backed by a reserve of assets equivalent to the face value of each stablecoin unit, and they must always be redeemable for U.S. dollars. New York’s financial services regulator announced Wednesday that U.S. dollar-backed stablecoins […]

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