Prohibition on Insurance
SIO-14.1.9
To help the CBB achieve the purpose of this Module, stablecoin issuers must not enter into or make a claim under a contract of insurance that is intended to, or has the effect of, indemnifying them from the fines provided for in this Module.
Added: July 2025SIO-14.1.10
The CBB will not as a matter of general policy publicise individual cases when it uses the measures set out in Section SIO-14.2 to SIO-14.7. However, in such cases the CBB may inform the stablecoin issuer’s external auditor and – in the case of stablecoin issuers with overseas operations – relevant overseas regulators.
Added: July 2025SIO-14.1.11
In exceptional circumstances, as allowed by Article 132 of the CBB Law, the CBB may decide to publicise individual cases when the measures set out in section SIO-14.6 are used, where there is a strong case that doing so would help achieve the CBB’s supervisory objectives. In such instances, the CBB will usually allow the stablecoin issuer or individual concerned the opportunity to make representations to the CBB before a public statement is issued.
Added: July 2025SIO-14.1.12
With respect to the financial penalties provided for in section SIO-14.6, stablecoin issuers are required to disclose in their annual report the amount of any such penalties paid to the CBB, together with a factual description of the reason(s) given by the CBB for the penalty.
Added: July 2025SIO-14.1.13
Without prejudice to the above policy, the CBB may from time to time publish aggregate information on its use of measures set out in Section SIO-14.2 to SIO-14.7, without identifying the stablecoin issuers or individuals concerned, unless their identities have previously been disclosed as provided for in Paragraphs SIO-14.1.11 or SIO-14.1.12.
Added: July 2025
