TechFlow news: On April 9, according to CoinDesk, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) will jointly issue a proposed rule requiring stablecoin issuers to establish robust anti-money laundering (AML) and sanctions compliance programs. Specific measures include freezing, blocking, and rejecting suspicious transactions, as well as complying with relevant provisions of the Bank Secrecy Act (BSA). The rule emphasizes outcomes-based regulation, recognizing that financial institutions possess the best understanding of their own risks; stablecoin issuers that build and maintain sound compliance programs are generally exempt from enforcement actions. This initiative aims to implement the GENIUS Act, passed last year, which is expected to take full effect in 2027.
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