The U.S. Treasury Department plans to require stablecoin issuers to bear the same level of counterparty due diligence obligations as banks

Odaily News: The U.S. Treasury Department is pushing a plan that would require stablecoin issuers to bear the same level of counterparty due diligence obligations as U.S. banks, in order to tighten verification standards for stablecoin issuers. The implementation timeline of the proposal and the scope of entities and activities covered have not yet been disclosed.