The U.S. Department of the Treasury has announced a joint proposed rule from its Financial Crimes Enforcement Network and Office of Foreign Assets Control to enforce the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The rule aims to apply the act’s anti‑money‑laundering and sanctions compliance requirements to permitted payment stablecoin issuers. It seeks to balance the promotion of stablecoin innovation with the need to reduce illicit finance risks. Under the proposal, issuers would be required to establish and maintain an effective sanctions compliance program as mandated by the GENIUS Act. The Treasury has released a press release, a fact sheet, and the formal Notice of Proposed Rulemaking for public review.
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