The Federal Deposit Insurance Corporation (FDIC) has taken a significant step toward implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act (the “GENIUS Act”) by approving a notice of proposed rulemaking (NPRM) that would establish a comprehensive Bank Secrecy Act (BSA) and anti-money laundering (AML) compliance framework for certain stablecoin issuers. The proposal signals that stablecoin issuance within the U.S. regulatory perimeter will be subject to compliance expectations closely aligned with those applicable…

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