Blockchain Legal Resource

On May 22, 2026, the Federal Deposit Insurance Corporation (FDIC) released proposed rules to implement Bank Secrecy Act (BSA) and sanctions compliance standards applicable to FDIC-supervised permitted payment stablecoin issuers (PPSIs) required under the GENIUS Act.

Under the proposed rules, FDIC-supervised PPSIs would be required to comply with applicable regulations and reporting requirements regarding anti-money laundering/countering the financing of terrorism (AML/CFT) and economic sanctions programs, including those established by the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control. ​According to the FDIC, the proposed rules would also establish and align supervision and enforcement provisions for PPSI AML/CFT programs with FinCEN requirements. In particular, the proposed rules would establish a mechanism for the FDIC to consult FinCEN before initiating an enforcement action under specified circumstances.

If enacted, the FDIC anticipates that the proposed rules would benefit FDIC-supervised PPSIs, their customers, and the public. Specifically, the FDIC believes compliance with the GENIUS Act’s provisions concerning AML/CFT and sanctions compliance would reduce the frequency and severity of harm caused by sanctioned and criminal actors undertaken via digital assets. Comments on the proposed rule are due 60 days after publication in the Federal Register.