Treasury Proposes Rule to Implement the GENIUS Act’s Requirements to Counter Illicit Finance

Promotes American Leadership in Payment StablecoinsWASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) issued a joint proposed rule to implement provisions of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The proposed rule, which implements the GENIUS Act’s anti-money laundering and sanctions compliance program requirements, encourages innovation in payment stablecoins while providing an appropriately tailored regime to mitigate potential illicit finance risks.“President Trump is strengthening American leadership in digital financial technology,” said Secretary of the Treasury Scott Bessent. “This proposal will protect the U.S.