US Treasury moves forward with GENIUS Act, focusing on illicit finance
Burns Brief
The proposed rule would direct payment stablecoin issuers to establish AML/CFT and sanctions compliance programs, and be able to “block, freeze, and reject” certain transactions Market participants are carefully weighing the implications, with the outcome likely to depend on broader macro conditions and volume. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.
The proposed rule would direct payment stablecoin issuers to establish AML/CFT and sanctions compliance programs, and be able to “block, freeze, and reject” certain transactions.
Key Takeaways
- The proposed rule would direct payment stablecoin issuers to establish AML/CFT and sanctions compliance programs, and be able to “block, freeze, and reject” certain transactions