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New, high-level guidance on managing the illicit finance-related risks of stablecoins will encourage mainstream banks to engage with the companies that issue them, analysts told ACAMS moneylaundering.com. The Wolfsberg Group, an association of 12 global banks known for authoring a questionnaire that correspondents use to vet respondents for anti-money laundering purposes, published a new list of due diligence-related questions Monday for financial services companies to ask issuers of mainstream currency-backed stablecoins before letting them open accounts. "This is giving banks a safety rail to act in this market," said Mark Aruliah, a former financial crime specialist at the U.K. Financial...