U.S. Treasury to propose demands that stablecoin firms be set to police bad transactions
CoinDesk
The U.S. Treasury is proposing new rules requiring stablecoin issuers to implement strict controls to detect and block illicit financial transactions.Summary
The U.S. Department of the Treasury, through FinCEN and OFAC, is preparing new regulations for stablecoin issuers to align them with broader financial sector standards. These proposed rules mandate that firms establish internal safeguards to "block, freeze and reject" transactions linked to money laundering, terrorist financing, or sanctions violations. This initiative, part of the implementation of the GENIUS Act, aims to balance national security with innovation, placing the responsibility on stablecoin companies to monitor their own risks while ensuring compliance with the Bank Secrecy Act.
(Source：CoinDesk)