Treasury Proposes AML/CFT and Sanctions Compliance Requirements for Permitted Payment Stablecoin Issuers

The Treasury Department, through a coordinated rulemaking effort involving OFAC and FinCEN, has taken a significant step toward formalizing anti-money laundering and sanctions compliance expectations for a rapidly evolving segment of the financial services industry—permitted payment stablecoin issuers.... By: The Volkov Law Group