FinCENBSA / AMLApril 10, 2026

FinCEN & OFAC Propose AML and Sanctions Rules for Stablecoin Issuers Under GENIUS Act

FinCEN and OFAC are jointly proposing rules to implement the GENIUS Act, which would formally classify permitted payment stablecoin issuers (PPSIs) as financial institutions under the BSA, subjecting them to full AML/CFT program requirements and mandatory sanctions compliance programs. This is a landmark proposal for the stablecoin industry — issuers that have not yet built BSA-compliant AML programs and OFAC screening infrastructure will need to do so. Comments on the proposal are open, making this a critical window for stablecoin firms to influence the final compliance framework.

What to do

If you issue or plan to issue payment stablecoins, conduct a gap analysis of your AML/CFT program and sanctions compliance controls against the proposed requirements and submit comments to FinCEN and OFAC before the deadline.

Who this affects

Crypto ExchangeCrypto CustodianWallet ProviderPayments CompanyFintech / NeobankOther

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Source

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This radar entry is educational and does not constitute legal advice. Summaries are AI-assisted and grounded in the linked official source; always verify against the primary source and consult qualified legal counsel for jurisdiction-specific guidance.

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OCC Proposes BSA/AML and Sanctions Rules for Payment Stablecoin Issuers

The OCC, in coordination with FinCEN and OFAC, has proposed regulations implementing BSA/AML and sanctions compliance requirements specifically for permitted payment stablecoin issuers under its jurisdiction, as required by the GENIUS Act. This is a landmark proposal that will establish formal AML program, KYC, and sanctions screening obligations for federally supervised stablecoin issuers. Compliance officers at stablecoin issuers and banks exploring stablecoin activities should treat this as a top-priority rulemaking.

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