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FDIC Drops Compliance Bomb On Stablecoins
The FDIC Board approved a new rule under the GENIUS Act, forcing stablecoin issuers to follow bank-level compliance.
What It Demands:
➡️ AML and counter-terror financing programs
✅ Full OFAC sanctions compliance
➡️ Mandatory FinCEN reporting
✅ Real-time transaction monitoring
Who Is Affected:
FDIC-supervised Permitted Payment Stablecoin Issuers (PPSIs) under state banks and savings associations.
60-day public comment window now open.