U.S. Treasury Plans Bank-Level Counterparty Due Diligence for Stablecoin Issuers
According to ChainCatcher citing Bloomingbit, the U.S. Treasury is advancing a plan to require stablecoin issuers to conduct counterparty due diligence at the same level as U.S. banks. The proposal aims to tighten verification standards for issuers. Details, including the implementation timeline and the entities and activities covered, have not been disclosed.