NYDFS-regulated
Issued by a New York limited-purpose trust company supervised by the Department of Financial Services.
- Jurisdiction
- New York State, USA
- Regulator
- New York State Department of Financial Services
- In force
- Stablecoin guidance issued June 2022; trust charters predate it
- Reserve rule
- Fully backed by US Treasury bills with a short maturity, reverse repo and deposits, held separately from corporate assets and attested monthly by an independent CPA.
- Redemption right
- Redemption at par no later than two business days after a conforming request.
- Disclosure
- Monthly attestation published by an independent auditor under AICPA standards.
What this regime does not protect you from
- • FDIC insurance — trust reserves are not insured deposits
- • Secondary-market price on chains and exchanges
- • The issuer's ability to freeze an address at law-enforcement request
Tokens under NYDFS-regulated (3)
Columns
| $2.85B | $0.9999 | +5.51% | 11.07% | 93 | |
| $2.50B | $1.0001 | +3.93% | 4.78%* | 89 | |
| $26.06M | $0.9989 | −7.12% | — | 78 |
Source: NYDFS — Guidance on USD-backed stablecoins. Regime tags describe an issuer's public registrations, not a rating.
Frequently asked
+ − What happened to BUSD?
NYDFS ordered Paxos to stop minting new BUSD in February 2023. Redemptions continued, and the token wound down in an orderly way — a live demonstration of what supervised wind-down looks like.