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US Treasury proposes rule to implement GENIUS Act requirements to counter illicit finance

( April 8, 2026, 18:36 GMT | Official Statement) -- MLex Summary: A draft plan to implement the GENIUS Act’s money laundering and sanctions compliance requirements was issued by the US Department of the Treasury’s Financial Crimes Enforcement Network and Office of Foreign Assets Control. The law enacted last year, which creates a framework for federal regulation of stablecoins, directs Treasury to issue rules to treat stablecoin issuers as financial institutions for Bank Secrecy Act purposes. If an issuer sets up a program under the rule, Treasury generally would not take an enforcement action unless the issuer has a “significant or systemic failure” to maintain that program.Full release follows:...

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