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2/ Reserves have to be real and provable: cash, insured deposits, short-dated Treasuries, held with a custodian who can't touch your funds. The contract system needs access control, supply management, and pause/freeze. Compliance checks every transaction automatically.
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3/ Oracles feed reserve data on-chain; monitoring watches it continuously, not quarterly. Redemption: par value, within a defined window, tested as hard as issuance, because that's the path that gets stressed. Part 7 of the Stablecoin Regulation Playbook, written by João Zamith → buff.ly/10eeyn8