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CryptoIntelligence 2024-07-29 12:50:00

FINMA Proposes New Guidelines for Stablecoin Issuers to Enhance Financial Oversight and Mitigate Risks

The Swiss Financial Market Supervisory Authority (FINMA) has introduced new guidelines for stablecoin issuers, aiming to strengthen regulatory oversight and reduce financial risks. This initiative responds to rising concerns about the impact of stablecoins on regulated financial institutions and the broader financial system. FINMA’s recent guidance proposes that stablecoin issuers be classified as financial intermediaries. This classification underscores the heightened risks of money laundering, terrorism financing, and sanctions evasion associated with these digital assets. Stablecoins, digital assets tied to traditional currencies or other assets, have seen a surge in adoption. However, their rapid growth has raised global regulatory alarms due

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