Even if you can make an AML compliant stablecoin, you're going to wind up with low marketshare as you have no competitive edge against over both actual banking and the cryptocurrencies getting used for money laundering. Like, by the time you centralize operations enough to comply with AML laws, you want to be using a database and an API with access tokens and resource identifiers that you hand out to approved participants. At which point you're a fancy bank, pretty much.