On April 8, 2026, the US Department of the Treasury’s (“Treasury“) Financial Crimes Enforcement Network (“FinCEN“) and the Office of Foreign Assets Control (“OFAC“) issued a joint proposed rule (“Proposed Rule“) to implement provisions of the Guiding and Establishing National Innovation for US Stablecoins Act (“GENIUS Act“). The Proposed Rule implements the GENIUS Act’s anti-money laundering (“AML“) and sanctions compliance program requirements and encourages innovation in payment stablecoins while providing a regulatory regime to mitigate potential illicit…