On June 22, 2026, the OCC issued a proposed rule to implement Bank Secrecy Act (BSA) and sanctions compliance standards applicable to OCC-supervised permitted payment stablecoin issuers (PPSIs), as required by the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act).
According to the OCC, the proposed rule would:
Require OCC-supervised PPSIs to comply with the BSA, sections 4(a)(5) and 4(a)(6)(B) of the GENIUS Act, and applicable regulations issued by the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control, including any anti-money laundering and countering the financing of terrorism (AML/CFT) program, sanctions program, and reporting requirements;
Create a supervision and enforcement framework for OCC-supervised PPSIs’ AML/CFT programs;
Establish a framework for consultation between the OCC and FinCEN when the OCC intends to initiate an AML/CFT enforcement action or a significant AML/CFT supervisory action; and
Permit PPSIs to share with the FinCEN Director certain nonpublic OCC information relating to an existing or potential AML/CFT enforcement action or significant AML/CFT supervisory action.
Comments on the proposed rule will be accepted through July 24, 2026.
The OCC’s announcement can be found here.
The proposed rule can be found here.