New York and EU authorities formalize information-sharing to monitor risks and investigations in the growing stablecoin sector.
New York’s Department of Financial Services and the European Banking Authority signed a 22-page agreement to exchange supervisory data on the $314 billion stablecoin market. The memorandum aims to enhance oversight, detect risks, and maintain market integrity across jurisdictions.
The collaboration follows concerns from Europe’s central bank about stablecoin vulnerabilities, including the risk of runs. New York’s BitLicense regime, known for strict crypto standards, will limit the initiative’s scope to firms under its supervision.
Regulators will share insights on criminal and civil investigations, as well as flag market meltdowns. The move reflects stablecoins’ role in cross-border capital flows and the need for coordinated crisis response.