Stablecoin

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Wally

Coin

<ul class="news-points"> 
 <li>The Deputy Treasury Secretary stressed the obligation of foreign USD-based stablecoin issuers to block bad actors.</li> 
 <li>He argued that the stablecoin issuers need to implement procedures preventing criminal entities from using their platforms.</li> 
 <li>He cited the Binance settlement as a stark example, with a clear message that those aiding criminals will be held accountable.</li> 
</ul> 
On Wednesday, the U.S. Deputy Secretary of the Treasury Wally Adeyemo warned about the risks posed by non-U.S. stablecoin issuers that use the U.S. dollar as backing. Adeyemo argued that foreign stablecoin issuers are obliged to implement robust procedures preventing bad actors from misusing their stablecoins, and should not enjoy the privilege of banking on the U.S. dollar without accountability. Specifically, he <a href="https://x.com/WuBlockchain/status/1730056555226345794?s=20" target="_blank" rel="nofollow">remarked</a>: 
<blockquote class="wp-block-quote"> 
 “We cannot allow dollar-backed stablecoin providers outside the United States to have the privilege of using our currency without the responsibility of putting in place procedures to prevent terrorists from abusing their platform.” 
</blockquote> 
Reportedly, the Deputy Secretary of the Treasury commented on this subject of non-U.S. stablecoin issuers in a speech he is scheduled to giv…
The post <a href="https://coinedition.com/us-treasury-demands-accountability-from-non-us-stablecoin-issuers/">US Treasury Demands Accountability from Non-US Stablecoin Issuers</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

US Treasury Demands Accountability from Non-US Stablecoin Issuers

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