Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 211

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 211
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 and establishes prudential requirements for the issuance, reserve backing and supervision of U.S. - dollar-peggedstablecoins. However, it is not yet in effect and certain provisions depend on final implementing regulations, which are to be issued by the primary federal stablecoin regulators. As a result, we may be subject to certain regulatory requirements and restrictions. This may implicate new costs for us and our management may have to devote increased time and attention to regulatory matters or change aspects of our business. Additionally, the regulatory treatment of fiat -backedstablecoins across other jurisdictions remains uncertain. 71 •Increased regulation may also result in limitations on the use cases of digital assets, including ENA Token. In addition, regulatory developments may require us to comply with certain existing and new regulatory regimes, such as if any of our activities cause us to be deemed a “money service business” under the regulations promulgated by the Financial Crimes Enforcement Network of the United States under the authority of the U.S. Bank Secrecy Act, including those that would require us to implement certain anti -moneylaundering programs, submit certain reports to Financial Crimes Enforcement Network of the United States and maintain certain records. In connection with our operations and digital asset treasury activities, we intend to implement and maintain policies, procedures and internal controls designed to promote compliance with applicable anti -moneylaundering (“ AML”), counter -terroristfinancing and economic sanctions laws and regulations, to the extent such requirements are applicable to our activities. These measures are expected to include, among other things, risk -basedassessments of our activities and counterparties, procedures designed to identify and mitigate illicit finance risks, monitoring of applicable sanctions lists, and the use of third -partyservice providers where appropriate to support transaction screening and compliance functions. However, the application of AML and sanctions laws to digital asset activities remains evolving and, in certain cases, unclear, and there can be no assurance that our policies and procedures will be deemed sufficient by regulators or will prevent all violations of applicable laws. •In addition to the stablecoin legislation, the U.S. Congress has continued to take steps towards enacting legislation regarding the digital assets market structure. For instance, on July17, 2025, the U.S. House of Representatives passed the Digital Asset Market Clarity Act (“ CLARITY Act”), which, if ultimately enacted, would allocate jurisdiction between the SEC and CFTC with respect to digital assets and create a market -structureframework for digital commodities. The bill