AML, KYC, and KYB in the GENIUS Act (Stablecoin Legislation):

🌿 AML – Anti-Money Laundering

Requires banks and stablecoin issuers to comply with the Bank Secrecy Act (BSA) and file Suspicious Activity Reports (SARs) to prevent money laundering and terrorist financing.

Includes monitoring of large transactions (over $10,000) and unusual patterns to enhance financial transparency.

🌿 KYC – Know Your Customer

Mandates identity verification of customers (name, address, ID documents) and beneficial owners using technologies like facial recognition to ensure legal compliance.

Customer risk profiles are created to track the origin and purpose of transactions.

🌿 KYB – Know Your Business

Requires verification of business information (legal structure, ownership, registration documents) to prevent shell companies and illicit activities.

Focuses on high-risk businesses in alignment with international standards set by the Financial Action Task Force (FATF).

🌿 Overall Impact:

Strengthens security, transparency, and public trust in the use of stablecoins, paving the way for seamless integration into the global financial system.

🌍💡No one truly knows the Pi Network is silently working behind the scenes — preparing to emerge as a global currency.

A new era of decentralized finance is being built... quietly, but powerfully.