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

On April 8, 2026, the US Department of the Treasury announced a joint proposed rule by the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) to implement the anti–money laundering (AML) and sanctions compliance requirements of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (the GENIUS Act).... By: WilmerHale