Welcome to USD1library.com

USD1library.com is an educational library about USD1 stablecoins. USD1 stablecoins are tokens (digital units recorded on a blockchain, which is a shared ledger maintained by a network of computers) designed to be exchangeable one-to-one for U.S. dollars.

This site is not an issuer (an organization that creates and redeems tokens), a wallet provider (a service that supplies software or hardware used to manage tokens), an exchange (a marketplace where people trade assets), or an investment service (a provider of personalized recommendations or managed portfolios). The goal is simple: help you learn the practical concepts that matter when you are researching, holding, sending, or receiving USD1 stablecoins.

This page is written to be useful if you are new to cryptoassets (digital assets that use cryptography and network ledgers) or if you are comparing multiple USD1 stablecoins that exist across different chains (blockchain networks), custody options, and legal structures. Throughout this site, the phrase USD1 stablecoins is used in a purely descriptive way: it refers to any token that aims to maintain a stable redemption relationship with U.S. dollars, not a brand name or a promise from this site.

What a library means here

A good library does not tell you what to buy or sell. It helps you understand your options, the tradeoffs, and the questions worth asking. In the context of USD1 stablecoins, that means organizing knowledge across several themes:

  • Basics and vocabulary so you can read disclosures and product pages without guessing what the words mean.
  • Mechanics explaining how issuance (creating new units) and redemption (exchanging units back for U.S. dollars under stated terms) typically work.
  • Risk framing so you can separate price stability from other risks like custody and smart contract security.
  • Comparison habits you can use to evaluate different USD1 stablecoins without assuming they are all equivalent.
  • Operational guidance for common tasks, such as moving USD1 stablecoins between wallets, paying someone, or receiving funds as a business.
  • Policy and compliance context that summarizes how regulators often think about stablecoins and related service providers.

If you navigate with a keyboard, you can use the Tab key to move across links. Your browser will typically show a focus outline (a visible highlight around the item you are selecting) so you can see where you are on the page.

Suggested learning paths

Libraries are easier to use when you have a path. Here are three common paths through the topics on USD1library.com, depending on what you are trying to do.

Path A: "I just want the basics"

Start with:

  • The definition of USD1 stablecoins and how redemption works.
  • The difference between market price and redemption rights.
  • The most common risks for everyday users, especially operational mistakes.

If you only read one idea: stable value is a goal, not a guarantee. Understanding who can redeem and how is the fastest way to avoid confusion.

Path B: "I want to use USD1 stablecoins for payments"

Start with:

  • How wallets and addresses work.
  • How to verify the correct chain before sending.
  • What fees and settlement times mean in practice.

Then read:

  • How businesses document payments and handle refunds.
  • How to reduce fraud and phishing risk.

Path C: "I am evaluating USD1 stablecoins for a business or product"

Start with:

  • Issuer structure, reserve reporting, and redemption terms.
  • Security controls, chain support, and operational resilience.
  • Compliance expectations for service providers.

Then read:

  • Recordkeeping and accounting habits.
  • How regulators describe stablecoin risks and expectations.[1]

USD1 stablecoins in plain English

USD1 stablecoins are designed to track the value of U.S. dollars. In practice, users care about two related ideas:

  • Price stability (the market price tends to stay close to one U.S. dollar).
  • Redemption reliability (there is a workable path to exchange USD1 stablecoins for U.S. dollars under stated terms).

A stablecoin (a token designed to maintain a steady value, usually relative to a currency) can look stable on a price chart while still being hard to redeem or risky to hold. This is why policy reports often focus on governance, reserves, and redemption arrangements for stablecoins used in payments and settlement (the final completion of a transfer).[1][4]

Why people talk about "the peg"

You will often hear the phrase peg (a target relationship between two values). For USD1 stablecoins, the peg is the goal of being worth about one U.S. dollar per unit in normal market conditions.

A peg is not magic. It is the outcome of incentives, market structure, and the ability to move between USD1 stablecoins and U.S. dollars. If redemption is smooth, then large price deviations tend to be arbitraged away (traded against for profit) by participants who can buy low and redeem near one, or mint near one and sell high. If redemption is limited, slow, expensive, or uncertain, the peg may be weaker.

USD1 stablecoins are not the same as bank deposits

A bank deposit is a liability (an obligation owed to you) of a regulated bank, often with specific consumer protections that vary by country. USD1 stablecoins are usually a liability of a non-bank issuer or a legal vehicle that holds assets and issues token claims. The protections, disclosures, and legal rights can differ widely, which is why due diligence matters.

U.S. policy discussions have highlighted the possibility of bank-like risks when stablecoins are used at scale for everyday payments, including run risk (a rapid wave of redemptions driven by fear).[3]

How USD1 stablecoins are created and redeemed

Most USD1 stablecoins follow a "mint and burn" pattern:

  • Minting (creating new units) usually happens when U.S. dollars or other accepted collateral (assets pledged to support value) is received under the issuer's rules.
  • Burning (destroying units) usually happens when USD1 stablecoins are redeemed and the issuer reduces the outstanding supply.

In practice, the steps depend on the design.

Step 1: A user obtains USD1 stablecoins

There are several common ways a user can obtain USD1 stablecoins:

  • Buying from a marketplace that lists USD1 stablecoins and paying in U.S. dollars or another asset.
  • Receiving USD1 stablecoins as payment for goods or services.
  • Converting from another stablecoin or cryptoasset through a service provider.

Even at this early step, two terms matter:

  • Custody (who controls the keys or accounts that can move the asset).
  • Counterparty risk (the risk that another party you rely on fails to perform).

If you obtain USD1 stablecoins through an intermediary, you are relying on that intermediary's operational controls, and sometimes on its legal obligations.

Step 2: The issuer holds reserves or collateral

Many USD1 stablecoins claim to be backed by reserves (assets held to support redemption). Reserves can take different forms: cash, short-term government securities, or repurchase agreements (short-term secured loans) depending on the model and the issuer's disclosures.

Some policy reports emphasize the importance of high-quality, liquid reserves (assets that can be converted to cash quickly with low loss) and clear redemption arrangements for stablecoins used as payment instruments.[1]

A related term is attestation (a statement by an independent accounting firm about information provided by a company) and audit (a deeper examination that follows a defined auditing standard). An attestation is not always an audit, and the scope can vary. When you read reserve reports, look for what was examined, what was not examined, and the date of the report.

Step 3: Redemption and settlement back to U.S. dollars

Redemption is where the "stable" part is tested. For some USD1 stablecoins, only approved customers can redeem directly with the issuer. Others rely on exchange markets or authorized intermediaries. This is one reason two USD1 stablecoins can look similar on the surface but differ meaningfully in risk and usability.

When redemption is available, the process usually involves:

  • Verifying eligibility (sometimes including KYC, meaning know-your-customer identity checks).
  • Submitting a redemption request for a stated amount.
  • Waiting for settlement through banking rails or other payment systems.
  • Paying fees, if any, and observing minimum or maximum limits.

Financial regulators often highlight that redemption timing, clarity of legal claims, and operational resilience are key factors in stablecoin safety.[1]

How to read disclosures and reserve reporting

A library is most useful when it helps you read primary documents. For USD1 stablecoins, the most important documents tend to fall into three buckets:

  1. Terms and conditions describing your rights and the issuer's obligations.
  2. Reserve reporting describing what assets are held and how they are measured.
  3. Operational and security notes describing how tokens are managed on-chain.

Below are practical ways to read each category without getting lost.

Terms and conditions: what matters most

When you skim terms, focus on a few high-impact questions:

  • Who is the customer? Are you the customer, or is your exchange the customer?
  • What is a unit legally? Is it a claim on an issuer, a claim on a trust, or something else?
  • Can redemptions be paused? Look for suspension language and the reasons it can be triggered.
  • How are disputes handled? Note the governing law and forum (where disputes are resolved).

Even if you never plan to sue anyone, these details shape what happens in a crisis.

Reserve reporting: what you should look for

Reserve reporting can be confusing because different issuers use different formats. A practical reading method is:

  • Find the reporting date and ask how recent it is.
  • Identify the categories of assets and whether they are liquid.
  • Look for third-party assurance language (attestation or audit).
  • Check whether assets are described as segregated (kept separate from company funds).

Global policy work has emphasized that clear disclosure and credible reserve management are core to stablecoin arrangements that aim to function as payment tools.[1]

On-chain disclosures: contracts and controls

On-chain details include:

  • The token contract address (the identifier of the smart contract on a chain).
  • Whether the contract is upgradeable (changeable by an administrator).
  • Whether the issuer can freeze or block transfers.
  • Whether the contract has been reviewed by independent security firms.

These details matter because they affect operational behavior, not just value.

Where USD1 stablecoins live and how they move

USD1 stablecoins live on blockchains. A blockchain records balances and transfers in a way that is visible to participants and resistant to certain kinds of tampering, but it also introduces operational details that do not exist in card payments or bank transfers.

Wallets and addresses

To hold USD1 stablecoins yourself, you typically use a wallet (software or hardware that stores cryptographic keys and lets you send transactions). A wallet controls one or more addresses (public identifiers that can receive assets on a given blockchain).

A private key (a secret string of data that proves control of an address) is what authorizes transfers. If someone obtains your private key, they can move your assets. If you lose it and have no backup, you may lose access.

Transactions, confirmations, and fees

A transaction (a signed instruction to transfer value on a blockchain) is broadcast to the network and then included in a block (a batch of recorded transactions). A confirmation (evidence that the transaction has been recorded and more blocks have followed) reduces the probability that the transaction is reversed.

Most blockchains charge a fee (payment to network operators for processing). On some networks, this is called gas (a unit used to measure transaction processing cost). Fees can change quickly depending on network demand.

Bridges and cross-chain movement

If USD1 stablecoins exist on more than one chain, users sometimes use bridges (systems that move assets or representations across chains). Bridges can add complexity and risk because they often rely on smart contracts and operational processes that can fail. Risk discussions in the crypto sector often treat bridging as higher-risk than simple transfers on one chain.[5]

If you are new to this, a practical rule is: the more steps you add, the more things can go wrong. For small test amounts, you can reduce mistakes by doing a small transfer first, confirming receipt, and only then moving a larger amount.

Common uses and real-world workflows

People use USD1 stablecoins for many reasons. The same feature that makes USD1 stablecoins appealing (a value tied to U.S. dollars) also makes them easy to compare with everyday financial tasks.

Below are common workflows, described in plain English, along with questions a careful person might ask.

1) Sending money to another person

A simple use case is sending USD1 stablecoins to a friend, family member, or contractor.

Typical steps:

  • The sender obtains USD1 stablecoins.
  • The receiver shares an address on the correct chain.
  • The sender sends USD1 stablecoins to that address and pays the network fee.
  • The receiver keeps the USD1 stablecoins, converts them, or spends them.

Questions to ask:

  • Are both parties using the same chain and the same token contract?
  • How quickly does the receiver need final settlement?
  • What happens if the sender makes a mistake in the address?

2) Paying for goods and services

Merchants sometimes accept USD1 stablecoins as a payment method. The merchant may keep USD1 stablecoins as a U.S.-dollar-linked asset or convert to U.S. dollars through a service provider.

Questions to ask:

  • Is the price quoted in U.S. dollars with a stablecoin equivalent, or directly in USD1 stablecoins?
  • Are there refund policies that call for reversing a transaction?
  • Are there tax reporting requirements when receiving USD1 stablecoins?

3) Holding value between trades or transfers

Some users hold USD1 stablecoins to reduce exposure to volatile cryptoassets (assets with large price swings). This can be useful when waiting for an opportunity, moving value between venues, or managing timing.

Questions to ask:

  • Is the stable value based on market price only, or on actual redemption rights?
  • What fees apply to conversion back to U.S. dollars?
  • Is there any cap or limit on redemption?

4) On-chain finance and lending

In decentralized finance (DeFi, meaning financial activity done through smart contracts rather than traditional intermediaries), USD1 stablecoins may be used for lending, borrowing, or providing liquidity (making assets available for trading).

Potential benefits:

  • Faster settlement and automated rules.
  • Access to global counterparties.

Key risks:

  • Smart contract bugs.
  • Liquidation (forced selling) if collateral values change.
  • Protocol governance risk (changes decided by voting or administrators).

Regulators and policy groups have emphasized that stablecoins can transmit shocks through interconnected markets, especially when used in trading and leverage (borrowing to amplify positions).[1]

5) Business treasury and international settlement

Some businesses explore USD1 stablecoins for cross-border settlement, especially where traditional banking transfers are slow or costly.

Questions to ask:

  • Are you allowed to hold and use USD1 stablecoins under your local rules?
  • Can your business redeem to bank money reliably, and through which partners?
  • How will you document transactions for accounting and audits?

For businesses, the operational details matter as much as the financial idea. A stablecoin that is easy to hold but difficult to redeem at scale may not meet treasury needs.

Risks to understand before you rely on USD1 stablecoins

USD1 stablecoins are often discussed as "low volatility," but low volatility is not the same as low risk. Here are key risk categories and why they matter.

Peg and liquidity risk

Even if a stablecoin aims for one U.S. dollar, market prices can deviate. Liquidity (the ability to buy or sell without large price impact) is crucial. A token can be stable in theory but trade below one if redemption is uncertain or if market liquidity dries up.

Reserve and asset risk

If USD1 stablecoins are backed by reserves, the quality, liquidity, and legal segregation of those assets matter. A reserve invested in riskier instruments may be vulnerable in stressed markets. Policy discussions regularly highlight the need for clear, high-quality backing to support stablecoin arrangements used for payments.[1]

Legal and redemption risk

The legal structure determines what you own. Are you holding a claim on a pool of assets, a claim on an issuer, or something else? Do terms and conditions allow suspending redemptions? Are there eligibility limits? These details can matter more than day-to-day price charts.

Operational and custody risk

Operational risk (the risk of loss due to failures in processes, people, or systems) shows up in many ways:

  • An exchange halts withdrawals.
  • A wallet provider has a security incident.
  • A user is phished (tricked into revealing secrets) or sends to the wrong address.

If you self-custody, you reduce some counterparty risk but take on key management risk.

Smart contract and protocol risk

A smart contract can contain bugs, and some tokens are upgradeable. Upgradeability can be useful for fixing issues, but it also creates governance risk: who can change the code, under what conditions, and with what transparency?

Securities regulators have also published policy recommendations for crypto and digital asset markets that address market integrity, conflicts of interest, and custody practices.[7]

Financial crime and sanctions risk

Stablecoins can be misused for illicit finance (moving money for illegal purposes). Because of this, many stablecoin-related services implement AML (anti-money laundering controls designed to detect and prevent illegal financial activity) and sanctions screening (checking against restricted party lists). The FATF has issued guidance covering virtual assets and service providers, including expectations around customer checks and information sharing in some contexts.[2]

For everyday users, this matters because:

  • Some services may freeze or block transfers linked to suspicious activity.
  • You may be asked for identification when converting to bank money.
  • Rules differ by jurisdiction and can change.

Regulatory change risk

Stablecoin rules are evolving. Different jurisdictions may regulate issuance, reserve assets, consumer disclosures, and service providers in different ways. The European Union's MiCA framework, for example, sets requirements for certain cryptoasset issuers and service providers, including rules relevant to stablecoins marketed in the EU.[6] In the United States, stablecoin policy discussions have addressed bank-like risks and the roles of federal and state supervisors.[3]

How to evaluate USD1 stablecoins: a due diligence checklist

If you are comparing different USD1 stablecoins, you can use a structured checklist. The goal is not to find a perfect answer, but to reduce surprises.

A. Issuer and legal structure

Ask:

  • Who is the issuer, and in what jurisdiction is it organized?
  • Is there a clear legal relationship between the token and the reserve assets?
  • Are the terms and conditions easy to find and read?

A stablecoin can be technically sound but legally unclear, which creates risk in a dispute.

B. Redemption terms

Ask:

  • Who can redeem USD1 stablecoins directly, and who must use a marketplace?
  • What are the minimum redemption sizes?
  • What fees apply?
  • How fast is redemption in normal times and in stressed times?

When you see marketing claims like "one-to-one exchangeable," look for the operational details that make it real.

C. Reserve transparency and quality

Ask:

  • Is there regular reporting about reserve assets?
  • Is the report an attestation or an audit, and what is the scope?
  • Are reserves held in cash and short-term government securities, or in riskier assets?

Global policy work has repeatedly emphasized that reserve asset quality and transparency are core features of safer stablecoin arrangements.[1]

D. Governance, controls, and security

Ask:

  • Does the issuer describe risk management and internal controls?
  • Are there third-party security reviews for the token contracts?
  • Is there a public incident history and a clear remediation process?

Look for plain, specific commitments rather than vague statements.

E. Chain support and operational usability

Ask:

  • On which chains do the USD1 stablecoins exist?
  • Are there clear instructions to avoid sending to the wrong chain?
  • What are typical network fees and settlement times for your use case?

For many users, operational usability is the difference between a safe transfer and an expensive mistake.

F. Market liquidity and venue risk

Ask:

  • Where is trading liquidity concentrated?
  • Are there multiple venues, or one dominant venue?
  • Are there limits on deposits and withdrawals?

Remember that venue risk is separate from stablecoin design. A well-designed token can still be hard to access if major venues restrict it.

G. Privacy and data practices

If you use custodial services (services that hold assets on your behalf), consider what personal data is collected and how it is stored. If you redeem directly with an issuer, you may provide identity information. This is not unique to USD1 stablecoins, but it is part of the real-world tradeoff between privacy and compliance.

Wallets, custody, and basic safety

The simplest way to avoid many stablecoin problems is to reduce operational mistakes. Here are the basics, framed for real people rather than specialists.

Self-custody versus custodial accounts

  • Self-custody means you control the private key. You can send USD1 stablecoins without asking permission, but you are responsible for security and backups.
  • Custodial accounts mean a service provider controls the keys and gives you access through an account. This can be easier, but you rely on the provider's security, solvency (ability to pay obligations), and policies.

Neither is universally better. The right choice depends on your comfort, your risk tolerance, and the amount involved.

Safety habits that prevent common losses

  1. Verify the chain and the receiving address before you send. Many losses come from sending the correct asset to the wrong chain or address.
  2. Send a small test amount when using a new address or new chain. Waiting a few minutes can save a large mistake.
  3. Protect your recovery phrase (a set of words that can restore wallet access). Never type it into websites or share it with anyone.
  4. Watch for approvals (permissions you grant to a smart contract to move your tokens). Approvals can be abused if you sign the wrong request.
  5. Be cautious with links in messages and search results. Phishing often imitates real brands and websites.

Understanding freezes and controls

Some USD1 stablecoins include administrative controls that can freeze tokens or block transfers under certain conditions. This is sometimes described as blacklisting (preventing specific addresses from moving assets). These features can be used for compliance and theft response, but they also create a form of control that users should understand before relying on a token.

Whether such controls exist, and how they are governed, is an important part of due diligence.

Compliance and policy notes for business and builders

This section is educational. It is not legal advice, and you should consult qualified professionals for decisions that affect your organization.

AML, KYC, and service providers

If your business offers exchange, custody, or payment services involving USD1 stablecoins, you may fall under rules for virtual asset service providers (VASPs, meaning businesses that exchange, transfer, or safeguard virtual assets). The FATF has published guidance describing how countries should apply AML expectations to such services, including customer checks and information sharing in some situations.[2]

Even if you are not a VASP, your banking partners may expect policies related to customer identification, transaction monitoring (reviewing activity for suspicious patterns), and sanctions compliance.

Consumer disclosures and reserve expectations

Policy reports in the United States have emphasized the importance of clear disclosures, reserve quality, and supervision for stablecoins used in payments.[3] In other jurisdictions, stablecoin rules may mandate white papers (public disclosure documents), governance standards, and ongoing reporting.

If your business plans to accept USD1 stablecoins, ask: what information would you want if you were the customer? Clear policies can reduce support issues and complaints.

Recordkeeping and accounting

For accounting, most organizations need clear records of:

  • When USD1 stablecoins were received or sent.
  • The U.S. dollar value at the time of each transaction.
  • Fees paid and the reason.
  • The purpose of the transaction (payment, refund, transfer between wallets, and so on).

Because tax and accounting rules differ by country and can change, treat this as a starting point, not a complete guide.

Technology choices and security reviews

If you build software that handles USD1 stablecoins, security practices matter:

  • Use well-reviewed wallet libraries.
  • Limit where private keys are stored.
  • Add approval limits and allowlists (approved destinations) for large transfers.
  • Run security reviews of smart contracts and integration code.

The BIS has discussed how stablecoins and related crypto markets can create new risks and interconnections, which is relevant for builders designing systems that may scale quickly.[5]

Glossary

This glossary defines common terms you may see in documents and discussions about USD1 stablecoins.

  • Address (a public identifier on a blockchain that can receive assets).
  • Arbitrage (trading to profit from price differences across venues).
  • Attestation (a third-party statement about information provided by a company, with a defined scope).
  • Audit (a deeper examination following an auditing standard to provide assurance about financial statements).
  • Backing (assets or mechanisms intended to support redemption).
  • Block (a batch of transactions recorded together on a blockchain).
  • Blockchain (a shared ledger maintained by a distributed network).
  • Bridge (a system that moves assets or representations across blockchains).
  • Burn (destroying tokens to reduce supply, often during redemption).
  • Collateral (assets pledged to support a loan or a stablecoin design).
  • Confirmation (evidence that a transaction has been included in the blockchain and is less likely to be reversed).
  • Custody (control and safeguarding of assets and the keys that move them).
  • DeFi (financial activity performed through smart contracts rather than traditional intermediaries).
  • Fiat currency (government-issued money like U.S. dollars).
  • Gas (a measure of transaction processing cost on some blockchains).
  • Issuer (the organization that creates and redeems a token, or manages the system that does so).
  • KYC (know-your-customer identity checks used by many financial institutions).
  • Liquidity (the ability to trade without large price changes).
  • Mint (creating new tokens, usually when collateral is received).
  • On-chain (recorded and executed on a blockchain).
  • Operational risk (risk of loss from failures in processes, people, or systems).
  • Peg (a target relationship between values, such as one token aimed to equal one U.S. dollar).
  • Private key (a secret that authorizes transfers from an address).
  • Protocol (a set of rules and software that defines how a blockchain or application works).
  • Redemption (exchanging USD1 stablecoins for U.S. dollars under stated terms).
  • Reserve (assets held to support redemption).
  • Settlement (final completion of a transfer so it cannot be undone under normal rules).
  • Smart contract (software that runs on a blockchain to enforce rules automatically).
  • Token contract (the smart contract that defines a token's rules on a chain).
  • Transaction (a signed instruction to transfer value on a blockchain).
  • Validator (a network participant that helps confirm and record transactions).
  • Yield (a return earned from lending or other risk-taking activity).

Frequently asked questions

Are all USD1 stablecoins the same?

No. USD1 stablecoins is a generic phrase describing a type of asset, not a single product. Different USD1 stablecoins can have different issuers, reserve policies, redemption terms, blockchains, and control features. A careful comparison looks beyond market price and asks what supports redemption.

Can I always exchange USD1 stablecoins for U.S. dollars?

Not always. Some USD1 stablecoins allow direct redemption only for approved customers, and others rely on secondary markets where prices can move. Redemption rights are part of the stablecoin design, but they can be limited by policy, eligibility, minimum sizes, or operational constraints.

What is the biggest risk for a typical user?

For many individuals, the biggest risks are operational: sending to the wrong address, falling for phishing, or relying on a venue that halts withdrawals. For larger holders and businesses, legal and reserve risks become more important.

Do USD1 stablecoins earn interest?

Some platforms may offer yield, but the yield comes from taking risk, such as lending risk or protocol risk. USD1 stablecoins themselves are usually designed to hold value, not to generate returns. Be cautious about offers that sound too good to be true.

How do regulators view stablecoins?

Views differ, but many authorities focus on payment stability, reserve quality, governance, operational resilience, and financial crime controls.[1] Some frameworks set specific requirements for stablecoin issuers and service providers.[6]

What should I check before using USD1 stablecoins for business payments?

Start with redemption and liquidity: can you reliably convert to bank money when needed, and can you do it at your expected volumes? Then consider operational controls, recordkeeping, and the compliance requirements of your banking partners.

Sources

  1. Financial Stability Board, "Regulation, Supervision and Oversight of Global Stablecoin Arrangements" (2020)
  2. Financial Action Task Force, "Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers" (updated 2021)
  3. President's Working Group on Financial Markets, FDIC, and OCC, "Report on Stablecoins" (2021)
  4. Board of Governors of the Federal Reserve System, "Money and Payments: The U.S. Dollar in the Age of Digital Transformation" (2022)
  5. Bank for International Settlements, "Annual Economic Report 2022: Chapter III, The crypto ecosystem: key elements and risks" (2022)
  6. Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA) (EUR-Lex)
  7. International Organization of Securities Commissions, "Policy Recommendations for Crypto and Digital Asset Markets" (2023)