The Wolfsberg Group published guidance setting out a financial crime risk framework for banks that provide banking services to fiat-backed stablecoin issuers, addressing how to draw the line on appropriate oversight and monitoring. The document reflects the consensus view of the twelve member banks and covers expectations for providing operating accounts, reserve management and client settlement services to a fiat-backed stablecoin issuer. It reiterates that most financial crime risk management principles applicable to relationships with other bank and non-bank financial institutions also apply in this context, while also outlining the unique financial crime risks associated with servicing a fiat-backed stablecoin issuer operating in a regulated jurisdiction.
The Wolfsberg Group 2025-09-08
The Wolfsberg Group issues guidance on banks providing services to fiat-backed stablecoin issuers
The Wolfsberg Group issued guidance on a financial crime risk framework for banks servicing fiat-backed stablecoin issuers, emphasizing oversight and monitoring. The guidance, reflecting consensus among twelve member banks, aligns with existing financial crime risk management principles and addresses unique risks in regulated jurisdictions.