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TREASRulemakingTREAS-DO-2025-0037

GENIUS Act Implementation

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Axos Bank filed 1 comment on this docket between Nov 19, 2025 and Nov 19, 2025. 55 other organizations filed here. The comment window closed 266d ago.

What Axos Bank filed (1)

Nov 19, 2025· Comment from Axos Bank· TREAS-DO-2025-0037-0335

Question 1 - How does Section 4(a)(5) of the GENIUS Act define the compliance responsibilities of federally chartered depository institutions holding U.S. dollar deposits for PPSIs? In particular, must these institutions apply blockchain analytics and customer due diligence measures extending to the PPSIs' end users? Question 2 - Section 8(a)(1) requires that a foreign payment stablecoin issuer have the "technological capability to comply" with lawful orders. We request further guidance on the scope of this term—specifically whether it encompasses transaction-blocking and sanctions-screening tools or broader data-sharing mechanisms. Further, we ask whether such foreign issuers, and the U.S. digital asset service providers that distribute or trade their tokens, would be subject to obligations under 31 C.F.R. § 1010.540 (Section 314(b)) and whether the U.S. providers would be deemed correspondent institutions for those purposes. Question 3 - How will Treasury and the regulators (particularly OCC) coordinate oversight of AML and sanctions compliance among PPSIs and their partner banks to ensure alignment of regulatory expectations and avoid duplicative or inconsistent requirements?

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Abstract

This ANPRM solicits comment on questions relating to the implementation of the GENIUS Act. The GENIUS Act tasks Treasury (and other federal agencies) with issuing regulations that encourage innovation in payment stablecoins while also providing an appropriately tailored regime to protect consumers, mitigate potential illicit finance risks, and address financial stability risks. Through this ANPRM, Treasury is seeking comment on potential regulations that may be promulgated, including regarding regulatory clarity, prohibitions on certain issuances and marketing, BSA/AML and sanctions obligations, the balance of state-level oversight with federal oversight, comparable foreign regulatory and supervisory regimes, and tax issues, among other things.

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Co-filers (55)

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