No later than 180 days after the approval of an application, and afterwards on an annual basis, each Alabama qualified payment stablecoin issuer shall submit to the commission a certification that the issuer, consistent with the requirements of the GENIUS Act, has implemented anti-money laundering and economic sanctions compliance programs that are reasonably designed to prevent the Alabama qualified payment stablecoin issuer from facilitating money laundering, in particular, facilitating money laundering for cartels and organizations designated as foreign terrorist organizations under 8 U.S.C. § 1189 and the financing of terrorist activities.
History: (Act 2026-354, §1.)