Switzerland tightens rules for stablecoins 🚨

- FINMA has proposed new rules for stablecoin issuers to strengthen controls and reduce financial risks.

- Issuers will be classified as financial intermediaries, which increases anti-money laundering and anti-terrorist financing requirements.

- New measures include mandatory verification of the identity of stablecoin holders and identification of beneficiaries.

- Issuers can operate without a banking license if they meet certain conditions to protect depositors.

- Global regulators are rushing to set rules for the fast-growing stablecoin sector.