The US Treasury has proposed new due-diligence requirements for payment stablecoin issuers as part of the licensing framework tied to the GENIUS Act, tightening oversight of the sector’s counterparties, TokenPost reported on November 14. Under the plan, permitted payment stablecoin issuers would have to examine their counterparties and follow existing banking-style due-diligence rules, with third-party counterparties treated as licensed entities under a combined federal and state licensing framework.
The proposed checks are described as comparable to the scrutiny applied to US correspondent banks, aiming to strengthen accountability, security and financial stability in stablecoin operations while bringing digital-asset firms closer to established banking standards. The requirements would apply specifically to permitted payment stablecoin issuers, and their effective date will be determined once the proposal is finalized. Treasury officials noted the move reflects broader scrutiny of financial institutions involved in digital assets, particularly around sanctions and security concerns.
TokenPost noted that issuers may need to reassess their existing operations to adapt to the proposed compliance requirements, with the measure centred on licensing and counterparty review for permitted payment stablecoin issuers specifically.
References
TokenPost – Treasury Proposal Would Add Due Diligence Rules for Stablecoin Issuers
