Banks Say Stablecoin Rules Should Cover Secondary Markets
Key takeaways
- Banks Say Stablecoin Rules Should Cover Secondary Markets Vince Dioquino Thu, June 11, 2026 at 10:03 PM GMT+7 3 min read Banking trade groups are pressing U.S.
- Most illicit activity occurs after issuance, making secondary market oversight critical as regulators weigh how to implement stablecoin AML rules, the trade groups argued.
- Stablecoins are crypto tokens designed to track the value of another asset, usually a fiat currency such as the U.S. dollar.
Banks Say Stablecoin Rules Should Cover Secondary Markets Vince Dioquino Thu, June 11, 2026 at 10:03 PM GMT+7 3 min read Banking trade groups are pressing U.S. regulators to clarify who oversees stablecoin transactions after issuance, opening a new front in a policy fight after crypto firms warned earlier this week that broad anti-money laundering rules could push regulated dollar tokens out of the decentralized finance sector.
In a pair of joint comment letters made public Wednesday, the Bank Policy Institute and The Clearing House said current requirements fail to impose sufficient obligations on DeFi firms, certain digital asset custodians, and exchanges. Most illicit activity occurs after issuance, making secondary market oversight critical as regulators weigh how to implement stablecoin AML rules, the trade groups argued.
Across two letters, the bank groups said regulators should put “flexibility first,” letting banks focus resources on “the most urgent threats” while moving away from “check-the-box compliance” and addressing gaps in stablecoin secondary markets.