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Treasury Proposes Stablecoin Rules for Illicit Finance
CoinDesk·
The U.S. Treasury is set to propose new rules requiring stablecoin issuers to implement robust controls against illicit finance, including money laundering and sanctions violations. These proposed regulations, stemming from the GENIUS Act, will mandate that firms establish systems to block, freeze, and reject suspicious transactions, aligning them with broader Bank Secrecy Act requirements. The Treasury aims to protect the U.S. financial system from national security threats while allowing the stablecoin ecosystem to grow, signaling a move towards greater regulatory clarity for the burgeoning sector.
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fintech
regulation
crypto
Original Source
CoinDesk — coindesk.com