BlockBeats News, April 8th, the U.S. Treasury Department is set to release a proposed rule requiring stablecoin issuers to establish strict compliance controls 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) and OFAC (Office of Foreign Assets Control) under the Treasury Department.Specific requirements for stablecoin companies include:Must have the ability to block, freeze, and reject suspicious or illegal transactions;Implement risk-based internal control procedures, with a focus on monitoring high-risk customers and activities;When a specific entity is flagged by U.S. authorities, issuers must actively search their records and cooperate with actions;Anti-money laundering and sanctions compliance measures must be enforced in both primary and secondary markets;Stablecoin issuers will be treated overall as traditional financial institutions, responsible for safeguarding the U.S. financial system from illicit use.U.S. Treasury Secretary Scott Bessent stated that regulators aim for stablecoins to become a more reliable, secure payment tool while addressing the ongoing illicit financial risks in the crypto space.
