US to impose stricter regulations on stablecoin issuers to combat sanctions evasion and money laundering
The United States is introducing new requirements for stablecoin issuers, especially those managing permitted payment stablecoins (PPSI), aimed at preventing sanctions evasion and money laundering. The agencies FinCEN and OFAC have unveiled a draft rule obliging companies to block, freeze, and reject suspicious transactions, while identifying high-risk customers and operations.
These measures are designed to reduce the risk of stablecoins being used for illicit activities, as previously highlighted by the Financial Action Task Force (FATF). Companies must also cooperate with US authorities during data inspections, strengthening oversight over the digital currency market.
This regulation forms part of a broader US strategy to ensure financial security and prevent illegal cryptocurrency operations.
Currently, the draft rule is open for public comment before potential official adoption and implementation within the crypto industry.
The new requirements are expected to enhance transparency in the stablecoin market and curb opportunities for unlawful transactions in the digital economy.
