Regulatory Alerts2024-04-24 | 4063Stablecoin Issuer and Issuance Requirements
The National Commission of Digital Assets mandates that all stablecoin issuers submit specific operational and financial data under Article 6 of the Regulation on the Issuance of Public Offers of Stablecoins. Issuers must disclose the volume of stablecoins to be issued, the type and quantity of international reserve assets held, and the protocols for creating and destroying tokens. Additionally, issuers are required to provide the URL of their main website and details regarding the Distributed Ledger Technology or similar technologies utilized.
Stablecoin Issuer and Issuance Requirements.
Stablecoin Issuance:
Article 6 of the Regulation on the Issuance of Public Offers of Stablecoins establishes that every stablecoin issuer must present the following information to the National Commission of Digital Assets:
- A description of the quantity of stablecoins to be issued;
- The type of international reserve asset to be used;
- The quantity of reserve assets in said currency;
- A description of their plans and the procedure related to the creation and destruction of the stablecoins to be issued;
- Indication of the URL of their main website;
- The Distributed Ledger Technology protocols, or similar or analogous technology, that they use.