U.S. Department of the Treasury: Plans to implement counterparty due diligence for stablecoin issuers at the same level as banks

According to Bloomingbit, the U.S. Treasury is promoting a plan to impose counterparty due diligence requirements on stablecoin issuers that are equivalent to those for banks.

The core of the proposal is to require stablecoin issuers to bear the same counterparty due diligence obligations as U.S. banks, tightening the verification standards for stablecoin issuers. Specific details, including the implementation timeline and the scope of entities and activities covered, have not yet been disclosed.