Wu Blockchain (@WuBlockchain): U.S. Treasury Proposal Sets Standards for Stablecoin Issuers to Block, Freeze, and Reject Illicit Transactions
Estimated coin impact
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U.S. Treasury Proposal Sets Standards for Stablecoin Issuers to Block, Freeze, and Reject Illicit Transactions The U.S. Treasury is set to propose joint rulemaking by FinCEN and OFAC imposing AML and sanctions compliance requirements on stablecoin issuers, requiring them to implement risk control frameworks with the ability to identify, block, and freeze suspicious transactions, apply risk-based customer and activity monitoring, and support law enforcement investigations by tracing relevant transactions.