Anchorage backs Treasury’s GENIUS AML rules, seeks secondary-market sanctions clarity

Written by Sam Bourgistaff writerReviewed by Robert Lakinstaff editorWritten by Sam Bourgistaff writerReviewed by Robert Lakinstaff editorAnchorage backs Treasury’s GENIUS AML rules, seeks secondary-market sanctions clarityLatest NewsPublishedJun 10, 2026A public comment letter argues that regulated stablecoin issuers need clearer compliance standards to avoid sanctions risks tied to secondary-market activity. Anchorage Digital, a federally chartered crypto bank and stablecoin infrastructure provider, has submitted a public comment letter supporting the US Treasury Department’s proposed Anti-Money Laundering (AML) and sanctions framework for the GENIUS Act, arguing that the rules largely strike the right balance between compliance and innovation.In a letter published Wednesday, Anchorage said the proposed framework appropriately places AML obligations on regulated stablecoin issuers while urging Treasury to clarify secondary-market sanctions liability, enterprise-wide AML programs and correspondent account requirements.Specifically, Anchorage argued that issuers should not face strict liability for failing to independently identify sanctioned users who transact on secondary markets through their smart contracts.“A final rule that is clear and workable gives regulated institutions the certainty they need to build, and strengthens U.S. leadership in the next generation of payments and settlement infrastructure,” Anchorage said.Source: Kevin WysockiThe comments address Treasury rules proposed in April that would classify payment stablecoin issuers as financial institutions under the Bank Secrecy Act, subjecting them to AML, customer due diligence and suspicious activity reporting requirements.The proposal, jointly issued by the Financial Crimes Enforcement Network (FinCEN) and Treasury's Office of Foreign Assets Control (OFAC), would align stablecoin issuers with existing US anti-money laundering and sanctions compliance standards while imposing enhanced monitoring …

Anchorage backs Treasury’s GENIUS AML rules, seeks secondary-market sanctions clarity

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