Anti-money laundering (AML) enforcement has replaced securities classification as the primary regulatory risk, with global AML-related fines exceeding $900 million in the first half of 2025. Transaction monitoring capabilities are now a core compliance requirement. Simultaneously, smart contract security audits have evolved from industry best practice to a mandatory requirement for licensing approval and token listing.
Global stablecoin regulatory frameworks are converging around principles of full reserve backing and licensed issuance, though cross-jurisdictional compliance gaps persist. The industry has entered a "strong compliance era," with CertiK noting that companies' core challenge has shifted from "whether to comply" to "how to rapidly build and implement compliance capabilities." Multi-jurisdictional licensing, AML investments, and continuous security audits are now foundational thresholds for institutional growth.