The Wolfsberg Group has published its guidance for firms on providing bank account services for fiat-backed stablecoin issuers. In principle, the Group thinks that most of the same financial crime risk management principles apply in developing and monitoring an account relationship with any NBFI. However, it has given some examples of unique risks that fiat-backed stablecoin issuers operating in a regulated jurisdiction might present.
Wolfsberg Group publishes fiat-backed issuer account provision guidance
