United States of America: Department of the Treasury closes consultation on innovative methods to detect illicit activity involving digital assets under GENIUS Act

On 17 October 2025, the United States Department of the Treasury closes the consultation on innovative or novel methods, techniques, and strategies to detect and mitigate illicit finance risks involving digital assets. The consultation is required under Section 9 of the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act), which established a regulatory framework for payment stablecoin issuers, including reserve requirements and the treatment of issuers as financial institutions under the Bank Secrecy Act and sanctions legislation. The consultation gathers information on four categories of technology, namely application programming interfaces, artificial intelligence, digital identity verification, and blockchain monitoring, all linked to anti-money laundering and counter-terrorist financing compliance.