The Federal Deposit Insurance Corporation (U.S. bank deposit insurer) said supervised stablecoin issuers would need to meet Bank Secrecy Act compliance, sanctions screening, and related reporting obligations.
The Federal Deposit Insurance Corporation (U.S. bank deposit insurer) has proposed compliance standards for supervised stablecoin issuers, focusing on anti-money laundering and sanctions controls. Under the proposal, issuers would be required to comply with Bank Secrecy Act requirements, AML/CFT (anti-money laundering and countering the financing of terrorism) obligations, Financial Crimes Enforcement Network (U.S. financial intelligence agency) rules, Office of Foreign Assets Control (U.S. sanctions enforcement agency) requirements, and reporting standards. The agency said public comments will be accepted for 60 days after the proposal is published in the Federal Register (official U.S. government journal), marking the next step in a formal rulemaking process for stablecoin oversight.