FDIC proposes AML and sanctions standards for supervised stablecoin issuers

What changed

The FDIC proposed BSA/AML and sanctions-compliance standards for FDIC-supervised permitted payment-stablecoin issuers under the GENIUS Act.

Who it affects

• FDIC-supervised stablecoin issuers, banks, compliance vendors, investment advisers, and clients

What is still open

• Final program standards and coordination with FinCEN, OFAC, and other prudential regulators

What it means for an advisor

• Map proposed governance, risk assessment, customer and transaction controls, sanctions screening, testing, reporting, and recordkeeping to issuer diligence.