Banks Say Stablecoin Rules Should Cover Secondary Markets
60-second summary
Banks are pushing for stablecoin regulations to focus on high-risk activity while addressing gaps in secondary markets. Industry trade groups argue for a more targeted approach to Anti-Money Laundering (AML) rules, allowing for more flexibility in lower-risk transactions. This shift in focus aims to promote innovation and stability in the digital asset space.
Banking industry trade groups argue AML rules should focus on higher-risk activity while addressing gaps in stablecoin secondary markets.