OCC proposes stablecoin issuer AML compliance rules under GENIUS Act
/ 1 min read
Table of Contents
The Office of the Comptroller of the Currency is proposing a rule to update its regulations for permitted payment stablecoin issuers. This proposal adds specific requirements for anti-money laundering and sanctions compliance, implementing provisions from the GENIUS Act. It works alongside separate proposed rules from FinCEN and OFAC that define how these issuers must handle financial crime prevention.
Why it matters: This action establishes the specific regulatory expectations for payment stablecoin issuers regarding financial crime prevention. It clarifies how the OCC will oversee compliance and coordinate with other Treasury agencies, providing a clearer path for issuers to meet their legal obligations without duplicating efforts across different regulators.
Who it affects
- Permitted payment stablecoin issuers subject to OCC jurisdiction
This proposed rule comes from the Treasury Department’s Office of the Comptroller of the Currency, and readers should check the original Federal Register document for full legal details before relying on this summary.
Agency: Treasury Department, Comptroller of the Currency
Source: Federal Register — read the official document