The New York State Department of Financial Services and the European Banking Authority agreed to coordinate stablecoin oversight through a 22-page, nonbinding memorandum of understanding that sets procedures for sharing regulatory and confidential information and for coordinating responses during emergencies. NYDFS said most stablecoins in circulation are dollar-denominated. The agreement adds operational detail to earlier reports of transatlantic cooperation between the two regulators over stablecoins, a digital asset segment valued at about $314 billion.