New disclosure obligations for euro- and dollar-denominated stablecoin issuers operating in the European Union came into force this week, requiring monthly attestations that break reserves down by instrument, maturity and custodian.
The rules also introduce a same-day notification duty. If an issuer suspends or delays redemptions for any reason, including a banking partner outage, it must inform its supervisor and publish a notice on its own site within the trading day.
Compliance officers at two issuers said the maturity breakdown is the most demanding element, because it forces a daily internal reconciliation that many treasury teams previously ran weekly.
Supervisors have signalled a grace period on formatting, but not on substance: late or incomplete attestations can trigger a review of an issuer's authorisation.
Smaller issuers are expected to consolidate. Two firms have already announced plans to migrate their euro tokens onto a partner's licence rather than maintain separate reserve reporting infrastructure.
