Huo Xing Finance reports, according to PYMNTS, on June 22, the U.S. Office of the Comptroller of the Currency (OCC) issued a proposed rulemaking requiring payment stablecoin issuers (PSIs) under its supervision to comply with the Bank Secrecy Act and relevant provisions of the GENIUS Act, while also implementing AML/CFT programs, sanctions programs, and reporting requirements set by FinCEN and OFAC. The rule will establish an OCC oversight and enforcement framework for AML/CFT compliance by PSIs and clarify the consultation mechanism between the OCC and FinCEN in enforcement actions. Previously, the OCC, in collaboration with the Federal Reserve, FDIC, NCUA, and other agencies, sought public comment on requiring stablecoin issuers to implement customer identification programs.
OCC Proposes Applying the Bank Secrecy Act to Stablecoin Issuers
MarsBitShare
Summary
The Office of the Comptroller of the Currency (OCC) has proposed applying the Bank Secrecy Act and CFT requirements to payment stablecoin issuers under its supervision. The rulemaking, dated June 22, 2026, requires compliance with FinCEN and OFAC’s AML programs, sanctions, and reporting obligations. It also establishes oversight for PPSIs and outlines coordination with FinCEN in enforcement actions. The proposal follows earlier joint comments on customer identification for stablecoin firms. This move could impact liquidity and crypto markets by increasing regulatory scrutiny on stablecoin operations.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.