Treasury Department, Foreign Assets Control Office, Financial Crimes Enforcement Network
The Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) are jointly issuing this proposed rule to implement provisions of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). Specifically, it implements the GENIUS Act's directive to treat permitted payment stablecoin issuers (PPSIs) as financial institutions for purposes of the Bank Secrecy Act, proposes anti-money laundering obligations for PPSIs, and proposes certain specific obligations required by the GENIUS Act for PPSIs. It also implements the GENIUS Act's directive to require PPSIs to maintain effective sanctions compliance programs.
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of the Treasury Office of Foreign Assets Control Financial Crimes Enforcement Network 31 CFR Part 502 31 CFR Parts 1010 and 1033 [Docket No. FINCEN-2026-0100] RIN 1506-AB73 ( printed page 18582) AGENCY: Financial Crimes Enforcement Network, Office of Foreign Assets Control, Treasury. ACTION: Joint proposed rule. SUMMARY: The Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) are jointly issuing this proposed rule to implement provisions of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). Specifically, it implements the GENIUS Act's directive to treat permitted payment stablecoin issuers (PPSIs) as financial institutions for purposes of the Bank Secrecy Act, proposes anti-money laundering obligations for PPSIs, and proposes certain specific obligations required by the GENIUS Act for PPSIs. It also implements the GENIUS Act's directive to require PPSIs to maintain effective sanctions compliance programs. DATES: Comments must be received by June 9, 2026. ADDRESSES: Comments must be submitted in one of the following two ways (please choose only one of the ways listed): Electronically at https://www.regulations.gov . Follow the “Submit a comment” instructions under Docket FINCEN-2026-0100. If you are reading this document on federalregister.gov , you may use the green “SUBMIT A PUBLIC COMMENT” button beneath this rulemaking's title to submit…
Citation: 91 FR 18582
