US Treasury Proposes AML Rules for Stablecoin Issuers Under GENIUS Act
The US Treasury, FinCEN, and OFAC issued a joint proposal requiring stablecoin issuers to comply with Bank Secrecy Act rules, including full AML programs, customer due diligence, and suspicious activity reporting. Issuers would also need the technical ability to freeze illicit transactions on their networks, per American Banker.
The 60-day comment period is open, with final rules due by July 2026. Full enforcement starts no later than January 2027.
Stablecoins are about to get the full bank treatment.
US Treasury Proposes AML Rules for Stablecoin Issuers Under GENIUS Act
The US Treasury, FinCEN, and OFAC issued a joint proposal requiring stablecoin issuers to comply with Bank Secrecy Act rules, including full AML programs, customer due diligence, and suspicious activity reporting. Issuers would also need the technical ability to freeze illicit transactions on their networks, per American Banker. The 60-day comment period is open, with final rules due by July 2026. Stablecoins are about to get the full bank treatment.
