🚨 JUST IN: Anchorage is backing the Treasury's AML rules, but seeks clarity on secondary-market sanctions risks, warning that unregulated stablecoin issuers are exposed to enormous penalties.
Anchorage's public comment letter, filed in response to a proposed rule that would subject regulated stablecoin issuers to stricter anti-money laundering (AML) and know-your-customer (KYC) standards, argues that issuers need clearer compliance standards to avoid sanctions risks tied to secondary-market activity.
While regulated stablecoin issuers like Compound ($COMP ) and Open Market ($OM) will likely benefit from a more transparent regulatory framework, the unregulated ones risk severe penalties for non-compliance.
The proposed rule, which follows a similar effort from the Office of Foreign Assets Control (OFAC), aims to prevent illicit activities such as money laundering and terrorist financing. By backing this initiative, Anchorage is signaling its commitment to regulatory compliance and emp
Anchorage's public comment letter, filed in response to a proposed rule that would subject regulated stablecoin issuers to stricter anti-money laundering (AML) and know-your-customer (KYC) standards, argues that issuers need clearer compliance standards to avoid sanctions risks tied to secondary-market activity.
While regulated stablecoin issuers like Compound ($COMP ) and Open Market ($OM) will likely benefit from a more transparent regulatory framework, the unregulated ones risk severe penalties for non-compliance.
The proposed rule, which follows a similar effort from the Office of Foreign Assets Control (OFAC), aims to prevent illicit activities such as money laundering and terrorist financing. By backing this initiative, Anchorage is signaling its commitment to regulatory compliance and emp