US defense bill may be problematic for USDC and stablecoins: Analysts By Cointelegraph
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Circle’s (USDC) and other stablecoins could potentially face a compliance nightmare if a new national defense bill that passed in the United States Senate makes it all the way.
In a July 31 investment note seen by Cointelegraph, Berenberg analyst Mark Palmer explained that a recent amendment to the 2024 National Defense Authorization Act (NDAA) could potentially introduce new Know Your Customerand Anti-Money Laundering measures that stablecoin issuers will be unable to comply with.
Knock on effects for Coinbase (NASDAQ:)
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Circle’s (USDC) and other stablecoins could potentially face a compliance nightmare if a new national defense bill that passed in the United States Senate makes it all the way.
In a July 31 investment note seen by Cointelegraph, Berenberg analyst Mark Palmer explained that a recent amendment to the 2024 National Defense Authorization Act (NDAA) could potentially introduce new Know Your Customerand Anti-Money Laundering measures that stablecoin issuers will be unable to comply with.
Knock on effects for Coinbase (NASDAQ:)
Continue Reading on Coin Telegraph