The U.S. FDIC has proposed new regulations to establish anti-money laundering and sanctions compliance standards for stablecoin issuers.

CoinFeed reported on May 23 that the Federal Deposit Insurance Corporation (FDIC) has proposed a new rule to establish Bank Secrecy Act (BSA) and sanctions compliance standards for stablecoin issuers under its supervision. The new rule would require stablecoin issuers to comply with all applicable anti-money laundering/counter-terrorist financing (AML/CFT), economic sanctions programs, and reporting requirements, including those issued by the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC). The rule would also establish regulatory and enforcement provisions for AML/CFT programs in accordance with FinCEN requirements. The proposed rule will be open for public comment for 60 days after its publication in the Federal Register.