Permitted Payment Stablecoin Issuer Anti-Money Laundering/Countering the Financing of Terrorism and Sanctions Compliance Risk Management
Key claim: The OCC, FinCEN, and OFAC propose new AML/CFT and sanctions compliance regulations for permitted payment stablecoin issuers under the GENIUS Act.
Abstract
(Proposed Rule · Treasury Department, Comptroller of the Currency) The Office of the Comptroller of the Currency (OCC), in coordination with the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC), proposes to issue regulations to implement the Guiding and Establishing National Innovation for U.S. Stablecoins Act’s requirement to issue regulations implementing appropriate Bank Secrecy Act (BSA) and sanctions compliance standards for permitted payment stablecoin issuers subject to the OCC’s jurisdiction.
Why this matters
The GENIUS Act created a novel federal charter for payment stablecoin issuers, and this joint proposal is the first attempt to translate longstanding BSA/AML and OFAC sanctions expectations onto that new entity class. For issuers, it defines the cost and operational baseline of participating in the regulated stablecoin market; for banks and consumers, it shapes how stablecoin flows will be monitored alongside traditional payments rails.