FDIC proposes anti-money laundering rules for bank-affiliated stablecoin issuers

Bank-affiliated stablecoin issuers will now be expected to comply with the same anti-money laundering and sanctions requirements that govern traditional financial institutions. The change is due to a proposed rule that was recently approved by the Federal Deposit Insurance Corporation (FDIC). The FDIC is also separately preparing to modernize anti-money laundering (AML) rules for stablecoins. ...