Voluntary Surrender of a License
SIO-2.2.1
In accordance with Article 50 of the CBB Law, a stablecoin issuer intending to cease carrying out all the approved regulated stablecoin offering services, must obtain the CBB’s written approval, before ceasing regulated stablecoin offering services. All such requests must be made in writing to the Director, Capital Markets Supervision, setting out in full the reasons for the request and how the business is to be wound up.
Added: July 2025SIO-2.2.2
Stablecoin issuers must satisfy the CBB that their clients’ interests are to be safeguarded during and after the proposed cancellation.
Added: July 2025SIO-2.2.3
The CBB will approve a request for cancellation of license by a stablecoin issuer where there are no outstanding regulatory concerns and client interests would not be prejudiced. A voluntary surrender will only be allowed to take effect once the stablecoin issuer, in the opinion of the CBB, has discharged all its regulatory obligations towards clients.
Added: July 2025
