Federal Register #OCC20260463

Proposed Rule: AML/CFT and Sanctions Compliance for Permitted Payment Stablecoin Issuers

This opportunity involves a proposed regulatory rulemaking by the Office of the Comptroller of the Currency (OCC), part of the Department of the Treasury, in partnership with FinCEN and OFAC: - Government Buyer: - Office of the Comptroller of the Currency (OCC), Department of the Treasury - In coordination with Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) - Scope and Affected Entities: - Implements the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act - Applies to permitted payment stablecoin issuers under OCC jurisdiction - Impacts approximately 29 entities, including OCC-regulated banks, non-bank financial institutions, and consortium/white-label stablecoin issuers - Products/Services Requested: - No physical products or OEMs are involved; this is a regulatory compliance requirement - Services required include implementation and maintenance of anti-money laundering (AML), countering the financing of terrorism (CFT), and sanctions compliance programs - Entities must comply with Bank Secrecy Act (BSA) and sanctions regulations (31 CFR chapters V and X) - Establishes enforcement and supervision policies, and a consultative process with FinCEN prior to enforcement or significant supervisory actions - Unique/Notable Requirements: - Mandatory information sharing with FinCEN - Ongoing compliance with BSA, AML/CFT, and sanctions regulations - Participation in OCC/FinCEN consultative processes before enforcement actions - No specific OEMs, vendors, or product part numbers are named, as this is a regulatory action rather than a procurement of goods or traditional services.

Description

The Office of the Comptroller of the Currency (OCC), in coordination with the Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC), proposes regulations to implement the Guiding and Establishing National Innovation for U.S. Stablecoins Act. These regulations establish appropriate Bank Secrecy Act (BSA) and sanctions compliance standards for permitted payment stablecoin issuers under OCC jurisdiction. The proposed rule includes provisions for AML/CFT enforcement and supervisory actions, consultation processes with FinCEN, and requirements for effective AML/CFT programs. Comments on the proposal must be received by July 24, 2026.

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