Regulatory Alerts2026-04-10 | 2026-06963Added · Updated
Permitted Payment Stablecoin Issuer AML/CFT Program and Sanctions Compliance Program Requirements
The Department of the Treasury’s Financial Crimes Enforcement Network and Office of Foreign Assets Control jointly proposed rules to implement the GENIUS Act by treating permitted payment stablecoin issuers as financial institutions under the Bank Secrecy Act. These regulations impose comprehensive anti-money laundering obligations, including risk assessments, suspicious activity reporting, and customer identification programs, on such issuers. Additionally, the proposal mandates that these entities maintain effective economic sanctions compliance programs to verify sanctions lists and block impermissible transactions.