US FinCEN proposal would make stablecoin issuers keep customer ID programs
By Neil Roland ( June 18, 2026, 20:25 GMT | Insight) -- A Trump administration proposal would require payment stablecoin issuers to maintain customer identification programs to curb illicit activity such as money laundering and terrorist financing, as banks and credit unions must do. The joint proposal, issued by the US Treasury's Financial Crimes Enforcement Network (FinCEN) and four other federal agencies, would implement provisions of the GENIUS Act that was enacted last year to provide a regulatory framework for stablecoins.A Trump administration proposal would require payment stablecoin issuers to maintain customer identification programs to curb illicit activity such as money laundering and terrorist financing, as is already required of banks and credit unions....
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