FDIC Moves Ahead With GENIUS Act Rulemaking for Stablecoin Issuers

The Federal Deposit Insurance Corporation (FDIC) has moved forward with a proposed rule under the GENIUS Act that would require federally supervised stablecoin issuers to comply with anti-money laundering (AML) and sanctions requirements. The proposal would cover FDIC-supervised payment stablecoin issuers operating under federal oversight. Officials said the framework is designed to bolster standards for AML and counter-terrorist financing compliance.