Regulatory Alerts2026-04-08
Permitted Payment Stablecoin Issuer Anti-Money Laundering and Sanctions Compliance Program Requirements
The Department of the Treasury's Financial Crimes Enforcement Network and Office of Foreign Assets Control jointly issued a proposed rule to implement the GENIUS Act by treating permitted payment stablecoin issuers as financial institutions under the Bank Secrecy Act. The regulation mandates that these issuers establish comprehensive anti-money laundering programs, including customer identification and suspicious activity reporting, while also requiring effective economic sanctions compliance programs. This framework aims to mitigate illicit finance risks in the stablecoin ecosystem by imposing tailored obligations consistent with existing U.S. financial laws.
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