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 Dfs Financial Statement 2011-2025

New York Dfs Financial 2011-2025 Form

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we are here to discuss some new guidance that you put out this week around stable coins and these are just i guess best practices that you would expect from your entities uh who are looking for licenses if they're going to be issuing stable coins what are some of the key points in this guidance that issuers need to know about thank you so much for having me we did just issue this guidance it relates to our current licensees either bit licensees or limited purpose trust charter holders that are issuing stable coins backed by fiat currency and it touches on a number of important issues including reserving requirements and the types of assets that we expect these entities to have in reserve uh liquidity and redemption so we expect them to be able to give consumers back their their fiat currency when they redeem their stable coins and it lays out a number of audit requirements by third parties and internal audits that we have for our licensees as well you said this relates to your

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