"The New York State Department of Financial Services announced that it has signed a memorandum of understanding (MOU) with the European Banking Authority to facilitate the exchange of supervisory and confidential information related to stablecoins. The MOU is intended to enhance the supervision of entities engaged in stablecoin activities, identify market trends and risks, and promote the integrity of the stablecoin market. This MOU relates only to the stablecoin-related activities of supervised entities, and not to other activities that supervised entities may undertake."