🔥The U.S. Department of the Treasury plans to require stablecoin issuers to strictly comply and have the ability to freeze transactions

On April 8, the U.S. Department of the Treasury is about to release a proposed rule requiring stablecoin issuers to establish stringent compliance control measures to combat money laundering, terrorist financing, and violations of U.S. sanctions. The regulatory measures will be jointly developed by FinCEN (Financial Crimes Enforcement Network, the Financial Crimes Enforcement Network) and OFAC (Office of Foreign Assets Control, Office of Foreign Assets Control), both under the Department of the Treasury. Specific requirements for stablecoin companies include: they must have the ability to block, freeze, and reject suspicious or illegal transactions; implement risk-based internal control procedures focusing on monitoring high-risk customers and activities; when U.S. authorities flag specific entities, issuers must proactively search their records and cooperate; anti-money laundering and sanctions compliance measures must be enforced in both the primary and secondary markets; overall, stablecoin issuers…