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  • Additional Obligations for Licensees whose Stablecoins have been Classified as Significant Stablecoins

    • SIO-8.2.3

      Where an approved stablecoin is classified as significant stablecoin, the stablecoin issuer issuing such significant stablecoin must:

      (a) adopt, implement and maintain a remuneration policy that promotes the sound and effective risk management and that does not create incentives to relax risk standards;
      (b) assess and monitor the liquidity needs to meet the redemption request. For this purpose, the licensee must establish, maintain and implement a liquidity management policy and procedures. The policy and those procedures must ensure that the reserve assets have a resilient liquidity profile that enables the licensee to continue operating normally, including under scenarios of liquidity stress;
      (c) conduct, on a regular basis, liquidity stress testing. Depending on the outcome of such tests, the licensee may decide to strengthen the liquidity requirements.
      Added: July 2025

    • SIO-8.2.4

      Where several stablecoin issuers have issued significant stablecoins backed by same fiat currency, provisions of Paragraph SIO-8.2.3 shall apply to each licensee.

      Added: July 2025

    • SIO-8.2.5

      The CBB may, in its absolute discretion, impose additional requirements on stablecoin issuer whose approved stablecoin has been classified as significant stablecoin.

      Added: July 2025