The standards draw directly from the Bank Secrecy Act framework, which currently governs Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) obligations for regulated financial institutions. Through the process of applying these same requirements to stablecoin issuers, regulators are signalling that user onboarding and verification processes for digital asset providers should increasingly resemble those of the traditional financial sector, at least from a compliance standpoint.