Condition 3: Mind and Management
(a) The board of directors and the senior management must collectively provide sufficient range of skills and experience to manage the affairs of the stablecoin issuer in a sound and prudent manner. Stablecoin issuers must ensure their employees meet any training and competency requirements specified by the CBB.
(b) The Board must appoint senior management whose authority must include management and operation of the activities of the licensed stablecoin issuer reporting to and under the direction of the Board. The senior managers must include a chief executive officer or equivalent, relevant business functions including compliance officer, money laundering reporting officer, head of finance, head of risk management, head of operations, head of reserve asset management, chief information security officer and internal audit. Also refer to Fit and Proper Requirements (FP) Module, in CBB Rulebook Common Volume, for requirements relating to fit and proper and prior CBB approval requirements relating to directors and relevant senior management functions.
(c) Stablecoin issuers must maintain adequate segregation of responsibilities in their staffing arrangements, to protect against the misuse of systems or errors. The segregation of responsibilities must ensure avoidance of any conflict of interest and maintain a Chinese Wall such critical functions.
Added: July 2025