US starts clock to bring in ID checks for converting dollars to stablecoins but DeFi stays outside the rules
US regulators have began the compliance clock for stablecoin issuers, with a proposed customer-identification rule that will make direct minting, redemption, and account relationships look extra like financial institution onboarding. The greater combat begins after that first buyer examine. Stablecoins could be purchased, transferred, and used throughout exchanges, wallets, DeFi venues, and sensible contracts lengthy…
