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We need to use OUT_REG_VALID and IN_REG_VALID events when you are doing read and write operations over registers. If you are planning to write some data at a particular address location on the peripheral device then you write that address and data to egress registers in the firmware, and then you can monitor for those events in the state machine to check whether there is some valid data.
But when you are transferring a whole lot of data using DMA buffers then you need to check for DMA ready flags. DMA ready flags will notify you whenever there is some valid data in the buffers.