According to the initiative, companies issuing stablecoins will need to implement systems for detecting and preventing illegal activities. In particular, this involves blocking suspicious transactions and freezing funds when necessary. Each issuer will also be required to appoint a compliance officer — this person must be an employee located in the USA and must not have a criminal record for financial crimes.
It is assumed that stablecoin issuers will be classified as financial institutions under the Bank Secrecy Act. OFAC plans to require creators of payment stablecoins to undergo regular audits and cooperate with law enforcement to detect and prevent financial crimes where stablecoins may be used.
U.S. Treasury Secretary Scott Bessent explained that the initiative aims to protect the U.S. financial system from national security threats without restricting the activities of American companies operating in the payments and stablecoin sectors. The Treasury is ready to accept public comments for 60 days.
The proposed measures are developed under the GENIUS Act regulating stablecoins, signed by U.S. President Donald Trump in July 2025. The document stipulates that the issuance of payment stablecoins is possible only through subsidiaries of insured financial organizations or with a special permit from the regulator.
Recently, the Federal Deposit Insurance Corporation (FDIC) proposed new rules for stablecoin issuers, establishing requirements for their reserves, token redemption procedures, and risk management. The FDIC suggested that the holders of stablecoins themselves would not receive deposit insurance; however, the reserves for stablecoins held in insured banks would have insurance protection.
The Ministry of Finance of Canada has also proposed to introduce regulation for stablecoin issuers, including mandatory registration with the Bank of Canada and disclosure of financial information.