OCC Proposes BSA and Sanctions Rules for Stablecoin Issuers

The Office of the Comptroller of the Currency (OCC) has issued a notice of proposed rulemaking to establish Bank Secrecy Act (BSA) and sanctions compliance standards. These rules would apply to OCC-supervised permitted payment stablecoin issuers. This action is mandated by the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act).