Cancellation of a License by the CBB
SIO-2.2.4
Pursuant to Article 48 (c) of the CBB Law, the CBB may cancel a license, for instance if a stablecoin issuer fails to satisfy any of its existing license conditions or in order to protect the legitimate interests of clients or creditors of the licensee. The CBB generally views the cancellation of a license as appropriate only in the most serious of circumstances and generally tries to address supervisory concerns through other means beforehand.
Added: July 2025SIO-2.2.5
The procedures for cancellation of a license are contained in Articles 48 and 49 of the CBB Law.
Added: July 2025SIO-2.2.6
The CBB will only effect the cancellation once a stablecoin issuer has discharged all its regulatory responsibilities to clients. Until such time, the CBB will retain all its regulatory powers towards the licensee and will direct the stablecoin issuer so that no new regulated stablecoin issuance may be undertaken whilst the licensee discharges its obligations to its clients.
Added: July 2025
