OCCBSA / AMLJune 24, 2026

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.

What to do

Review the proposed rule in full, map your existing BSA/AML and sanctions compliance program against the proposed requirements for stablecoin issuers, and prepare a comment letter identifying gaps or implementation challenges.

Who this affects

Bank / Credit UnionTrust CompanyPayments CompanyMoney Services BusinessOther

Does this affect your program?

Pick your institution type for an instant read on whether you're in scope — then see exactly which sections of your own policies this changes.

Source

Read the official publication

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.

Related developments

OCC

OCC Comptroller Speaks on Debanking Report Findings

Comptroller Gould publicly discussed findings from the OCC's supervisory review of debanking practices at the largest national banks, signaling heightened regulatory attention to how banks terminate or restrict customer accounts. For crypto firms, fintechs, and MSBs that have experienced account closures, this signals potential policy and supervisory pressure on banks to justify debanking decisions. Compliance officers at banks should expect greater scrutiny of their account-closure policies and documentation.

OCC

OCC Publishes Report on Debanking Practices at the Nine Largest National Banks

The OCC released a formal report detailing its supervisory findings on how the nine largest national banks it oversees — including JPMorgan Chase, Bank of America, Citibank, and others — have conducted debanking activities, a practice that has disproportionately affected crypto firms, MSBs, and fintechs. This report is a significant regulatory signal that the OCC is scrutinizing blanket or poorly justified account terminations and may indicate forthcoming supervisory guidance or expectations. Crypto and fintech compliance officers should review the findings to understand the regulatory landscape around banking access and use it to engage their banking partners.

OCC

OCC Hits Bank of America with Record $750M BSA/AML Penalty

The OCC levied a historic $750 million civil money penalty against Bank of America for violations of the Bank Secrecy Act and its implementing regulations, the largest such penalty in OCC history. This action signals that regulators are prepared to impose landmark fines for systemic BSA/AML compliance failures, sending a clear message to all regulated institutions — including banks that partner with or provide services to crypto and fintech firms — that AML program deficiencies will be met with severe consequences.

OCC

OCC Hits American Express with $350M Penalty for BSA/AML Failures

The OCC issued a cease-and-desist order and a $350 million civil money penalty against American Express National Bank for deficiencies in its BSA/AML compliance program. This is a high-profile enforcement action signaling that regulators are actively scrutinizing AML program adequacy at large financial institutions. Compliance officers should treat this as a benchmark for the level of rigor expected in BSA/AML controls.

Stay ahead of every rule change

PliOS monitors FinCEN, OCC, OFAC, the SEC and CFTC and tells you which of your policies each new rule affects — with the edit already drafted. Start free.

Run My Free Assessment