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06/22/2026
GENIUS Act: Anti-Money Laundering/Countering the Financing of Terrorism and Sanctions Compliance: Notice of Proposed Rulemaking
OCC
The Office of the Comptroller of the Currency (OCC) is issuing a notice of proposed rulemaking to implement Bank Secrecy Act (BSA) and sanctions compliance standards applicable to OCC-supervised permitted payment stablecoin issuers (PPSI), as required by the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act).
Comments on the proposed rule will be accepted for 30 days after publication in the Federal Register.
Note for Community Banks
The proposed rule would apply to federal qualified payment stablecoin issuers and to state qualified payment stablecoin issuers for which the OCC has regulatory or enforcement authority pursuant to the GENIUS Act.
Highlights
The proposed rule would
- require OCC-supervised PPSIs to comply with the BSA, sections 4(a)(5) and 4(a)(6)(B) of the GENIUS Act, and applicable regulations issued by the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control, including any anti-money laundering and countering the financing of terrorism (AML/CFT) program, sanctions program, and reporting requirements.
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