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chainpriest
U.S. Defense Bill Could Cause Problems for USDC and Stablecoin
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Aug 01, 2023 at 08:20
According to Berenberg analyst Mark Palmer, a recent amendment to the National Defense Authorization Act (NDAA) of 2024 has the potential to create difficulties for stablecoin issuers like USDC (USD Coin). The amendment aims to introduce new Know Your Customer (KYC) and anti-money laundering measures for crypto-assets. These measures would require stablecoin issuers to comply with vetting standards set by the U.S. Secretary of the Treasury to ensure adherence to money laundering and sanctioning laws. The implementation of these measures, if included in the final version of the NDAA, could pose...
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