Guide · sent by email
What a stablecoin business already owes under US anti-money laundering rules.
For businesses issuing, exchanging or moving payment stablecoins with US customers or a US entity.
What is in it
The question is what you do, not what you call it.
A stablecoin business usually asks whether it is regulated as a crypto company. That is the wrong question, and it produces a wrong answer in both directions.
- Why the obligation turns on what you do, not on what you call the product
- When a stablecoin business becomes a money transmitter
- What registration requires, and the deadline that is easy to miss
- The four parts of an anti-money laundering programme that examiners look for
- What has to be reported, and the two reports most firms do not expect
- What the April 2026 proposed rule would add, and what to settle before it lands
Roughly 1132 words. Every regulatory statement carries the section it rests on, so you can read the provision rather than take our word for it:
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It arrives as one email. Asking for the guide on its own does not add you to any list. What we do with this.
Not legal advice. Northward is a compliance practice, not a law firm. The guide sets out what the published rules say and how they are applied in practice at different risk appetites. What that means for your business is a conversation. Disclaimer.
Rather just ask?
If the question is specific to your business, a conversation gets further than a guide.