Regulatory Alerts2026-05-22 | FIL-24-2026Added · Updated
Notice of Proposed Rulemaking to Establish Bank Secrecy Act and Sanctions Compliance Standards for FDIC-Supervised Permitted Payment Stablecoin Issuers
The FDIC Board of Directors issued a notice of proposed rulemaking to implement Bank Secrecy Act and sanctions compliance standards for FDIC-supervised permitted payment stablecoin issuers (PPSIs) under the GENIUS Act. The proposed rule mandates that PPSIs adhere to applicable anti-money laundering, countering the financing of terrorism, and economic sanctions regulations, including reporting requirements from FinCEN and OFAC. It further establishes aligned supervision and enforcement provisions for PPSI compliance programs, with a 60-day public comment period following Federal Register publication.