Treasury Proposes GENIUS Act Rules Requiring Stablecoin Issuers to Screen Customers

Treasury's FinCEN and OFAC jointly proposed rules on April 8, 2026 requiring permitted payment stablecoin issuers to establish comprehensive anti-money laundering and sanctions compliance programs. The GENIUS Act implementation rules would mandate covered entities to implement AML/CFT programs, conduct customer due diligence, and file suspicious activity reports.

The proposal follows separate joint guidance released April 10 requiring stablecoin issuers to screen transactions against OFAC sanctions lists. Companies issuing or transacting in payment stablecoins would need to maintain written AML policies, designate compliance officers, and ensure ongoing employee training.

The rules would affect a growing market for digital payment tokens used in commerce and financial applications. Industry stakeholders have 60 days to comment before the rules could be finalized, potentially reshaping how the $180 billion stablecoin market operates in the United States.