The GENIUS Act became law in 2025, but rules crafted by various regulators were due on July 18, 2026. Today, the American Fintech Council distributed a statement on the Office of the Comptroller of the Currency and its AML/CFT requirements. Requirements include high-quality reserves like cash and T-bills and a path to become a permitted payment stablecoin issuer (PPSI). Ian P. Moloney, Chief Policy Officer at the AFC, stated:“The American Fintech Council (AFC) commends the OCC for advancing a thoughtful framework to implement the GENIUS Act’s anti-money laundering (AML), countering the financing of terrorism (CFT), and sanctions compliance requirements for permitted payment stablecoin issuers. “The final rule should also provide clear, risk-based supervisory expectations that promote effective compliance, regulatory certainty, and continuous improvement while avoiding unnecessary duplication of existing compliance obligations.