The guidance sets criteria for USD-backed stablecoins issued by DFS-regulated entities.
Acting Comptroller Hsu spoke about the recent volatility with stablecoins.
The bank said a regulated, transparent and fully backed stablecoin has great potential.
The digital asset manager invested in crashed stablecoin Luna from its own balance sheet.
Stablecoins lack shared standards and are not interoperable.
Circle and BlackRock will explore capital market applications for USDC.
UK government will consult on wider regulation of cryptoassets this year.
The consortium aims to grow its membership of FDIC-insured banks.
Committee is holding a hearing on Understanding the Challenges and Benefits of Financial Innovation in the US.