#StablecoinLaw

What is the “Stablecoin Law”?

The Stablecoin Law is legislation aimed at:

1. Ensuring transparency and reserves:

• Ensuring that the issuer of the stablecoin maintains cash reserves or equivalents at a 1:1 ratio.

• Regularly auditing the reserves by independent parties.

2. Consumer protection:

• Ensuring the safety of funds deposited by users.

• Obligating issuers to provide clear information about how the stablecoin works.

3. Anti-money laundering (AML) and counter-terrorism financing (CFT):

• Enforcing identity verification (KYC) for users.

• Tracking financial transfers.

4. Licensing and supervision:

• Requiring the issuer to obtain a license from financial authorities.

• Subjecting them to oversight by regulatory bodies.