A stablecoin issuer must submit the draft redemption plan to the CBB for approval, within six months of the date of approval of the stablecoin whitepaper. The CBB may, at its sole discretion, recommend amendments to the draft redemption plan where necessary to ensure its proper implementation. The CBB shall inform the stablecoin issuer about its decision, i.e. either approving the draft redemption plan or recommending amendments to the draft redemption plan, within 30 days from the date of submission of the draft redemption plan. The stablecoin issuer must implemented the redemption plan as approved by the CBB within 15 days from the date of approval of the redemption plan. The stablecoin issuer must regularly review and update the redemption plan.