Data current as of July 2026 — travel rule enforcement, 1099-DA reporting, and DAC8 registration deadlines are all mid-rollout; verify current requirements before you build on this. Key Takeaways A USDT payout is a pipeline, not a transaction: funding, on-ramp, KYC/screening, custody, broadcast, confirmations, off-ramp, reconciliation — each stage has its own failure mode. Crypto rails don't bypass compliance: KYC/AML, the FATF travel rule, and tax reporting apply on every r...