Treasury Proposes GENIUS Act Rules to Tighten Stablecoin AML and Sanctions
TL;DR
The U.S. Treasury’s FinCEN and OFAC issued a joint proposed rule to implement GENIUS Act provisions, proposing that permitted payment stablecoin issuers be treated as financial institutions under the Bank Secrecy Act and must adopt effective AML and sanctions‑compliance programs; the rule aims to curb illicit finance while enabling innovation in the payment stablecoin space and invites public comments ahead of publication in the Federal Register.
- Treasury Proposes Rule to Implement the GENIUS Act’s Requirements to Counter Illicit Finance U.S. Department of the Treasury (.gov)
- 'Gamechanger'—Banks Suddenly Targeting $323 Billion Stablecoin Market Forbes
- FDIC proposes ruleset for stablecoin issuers following GENIUS enactment The Block
- An Interactive Guide to GENIUS Implementation paradigm.xyz
- Treasury Proposes Anti-Money Laundering Framework for Stablecoin Issuers PYMNTS.com
Want the full story? Read the original reporting
Read on U.S. Department of the Treasury (.gov)