SIO-5.9 Anti Money Laundering and Combating the Financing of Terrorism
SIO-5.9.1
Stablecoin issuers must have adequate and appropriate systems and controls, in accordance with the requirements of Anti Money Laundering and Combating of Financial Crime (AML) Module, CBB Rulebook Volume 6, to prevent, detect and combat money laundering and terror financing.
Added: July 2025SIO-5.9.2
The AML/CFT systems and controls referred to in Paragraph SIO-5.9.1 must include but not be limited to (i) customer due diligence in relation to the offering and redemption of the approved stablecoin, (ii) transaction monitoring and (iii) crypto asset transfer (travel rule) and wire transfer rules as provided for in AML-2A of the Anti-Money Laundering and Combating of Financial Crime (AML) Module, CBB Rulebook Volume 6.
Added: July 2025SIO-5.9.3
For avoidance of doubt, stablecoin issuers must ensure that clients making redemption requests are compliant with the customer due diligence requirements prior to processing of the redemption request.
Added: July 2025Origin and Destination of Approved stablecoins
SIO-5.9.4
Stablecoin issuers must consider using technology solutions and other systems to adequately meet anti-money laundering, financial crime and know-your-customer requirements.
Added: July 2025SIO-5.9.5
Stablecoin issuers must develop, implement and maintain effective transaction monitoring systems to determine the origin of an approved stablecoin, to monitor its destination and to apply strong “know your transaction” measures which enable the licensed stablecoin issuer to have complete granular data centric information about the transactions conducted by a client.
Added: July 2025
