Treasury Outlines How Stablecoin Rules Will Fight Illicit Finance Under GENIUS Act

In brief

• The U.S. Treasury proposed a rule detailing how stablecoin issuers must build anti-money laundering and sanctions programs under the GENIUS Act.
• In many ways, the rules bring stablecoin issuers under the umbrella of other entities that FinCEN and OFAC already regulate.
• In a statement,…