Issuers of payment stablecoins will be treated as financial institutions under the Bank Secrecy Act (BSA). The regulator will require them to establish and maintain an anti-money laundering (AML) and countering the financing of terrorism (CFT) program. Issuers will also need to ensure compliance with sanctions. Additionally, they will be obligated to provide the capability to block, freeze, and reject certain stablecoin transactions. CEO of the analytical company Nominis, Snir Levy, stated that these rules turn issuers into tools of banking control. The innovation could lead to an increase in wallet freezes, transaction blocks, and asset seizures on a large scale. GENIUS will come into effect on January 18, 2027, or 120 days after regulators publish the final rules for the law's implementation.