[New York Department of Financial Services and European Banking Authority Sign Agreement on Stablecoin Regulatory Cooperation and Coordination] According to a report by Decrypt on June 3, the New York Department of Financial Services (NYDFS) and the European Banking Authority (EBA) have signed a cooperation agreement on stablecoin regulation. In a 22-page memorandum of understanding, the two parties outlined procedures aimed at promoting regulatory oversight and the exchange of confidential information related to the stablecoin industry. NYDFS stated that this move is intended to strengthen supervision, identify market trends and risks, and promote market integrity. In emergency situations, such as when a regulated entity faces severe operational or financial difficulties, both parties will promptly notify each other of the issues and coordinate responses. Additionally, they will share information related to civil or criminal investigations upon request.