The U.S. Department of the Treasury plans to implement new anti-money laundering and sanctions compliance regulations for stablecoin issuers

ME News Report, April 9 (UTC+8), the Financial Crimes Enforcement Network (FinCEN) under the U.S. Department of the Treasury, together with the Office of Foreign Assets Control (OFAC), will jointly issue proposed rules requiring stablecoin issuers to establish comprehensive anti-money laundering and sanctions compliance systems. Specific measures include freezing, intercepting, and rejecting suspicious transactions, and complying with relevant provisions of the Bank Secrecy Act. The rules emphasize a results-oriented approach, believing that financial institutions are best aware of their own risks, and that issuers who establish sound compliance systems are generally less likely to face enforcement actions. This move aims to implement the GENIUS Act passed last year, which is expected to fully take effect by 2027. (Source: ChainCatcher)