Regulatory Alerts2024-04-24 | 4066Stablecoin Procedure
The National Commission of Digital Assets issues a 'No Objection Resolution' within five business days to authorize stablecoin issuance, provided all required documentation is complete. If information is missing, the Commission grants a 15-day extension, after which a 'Objection Resolution' is issued if deficiencies remain or if the issuance poses a risk to digital asset system stability. Foreign stablecoins seeking admission to digital asset service provider platforms also require a 'No Objection Resolution' from the Commission, necessitating immediate submission of admission requests by providers.
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