The U.S. Office of the Comptroller of the Currency (OCC) has proposed a new rule requiring payment stablecoin issuers under its supervision to adhere to the Bank Secrecy Act (BSA) and the GENIUS Act. Announced on June 22, the proposal mandates that these issuers implement anti-money laundering and combating the financing of terrorism (AML/CFT) programs, along with sanctions and reporting requirements managed by the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC). The proposed rule also aims to establish a supervisory and enforcement framework for the OCC regarding AML/CFT obligations of payment stablecoin issuers. It seeks to clarify the coordination between the OCC and FinCEN in enforcement actions. This follows previous efforts by the OCC, in collaboration with the Federal Reserve, FDIC, and NCUA, to gather public input on stablecoin issuers' customer identification programs.