Svmuu News The Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) under the U.S. Department of the Treasury plan to jointly issue rules requiring stablecoin issuers to establish comprehensive anti-money laundering and sanctions compliance systems. This includes freezing, blocking, and rejecting suspicious transactions, and adhering to the relevant requirements of the Bank Secrecy Act.
The rules emphasize a risk- and outcome-based approach, stating that institutions with robust compliance systems typically face lower enforcement risks. This move aims to advance the implementation of the related GENIUS Act, which is expected to fully take effect in 2027. (CoinDesk)
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U.S. Treasury Department Proposes New Anti-Money Laundering Rules for Stablecoins, Strengthening Sanctions Compliance Requirements
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