Regulatory Alerts2026-06-05 | 2026-11342Added · Updated
Bank Secrecy Act and Sanctions Compliance Standards for FDIC-Supervised Permitted Payment Stablecoin Issuers
The Federal Deposit Insurance Corporation proposes regulations under the GENIUS Act to establish tailored Bank Secrecy Act and economic sanctions compliance standards for FDIC-supervised permitted payment stablecoin issuers. The proposed rule amends FDIC Part 350 to mandate effective anti-money laundering and countering the financing of terrorism programs, require adherence to FinCEN and OFAC regulations, and institute a formal consultation process before enforcement actions. By clarifying non-public information sharing and supervisory expectations, the framework mitigates illicit finance risks while fostering responsible digital asset growth within the banking sector.