{"id":74220,"date":"2026-06-18T17:11:51","date_gmt":"2026-06-18T17:11:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/fed-joins-4-agencies-to-demand-id-programs-from-payment-stablecoin-operators\/"},"modified":"2026-06-18T17:11:51","modified_gmt":"2026-06-18T17:11:51","slug":"fed-joins-4-agencies-to-demand-id-programs-from-payment-stablecoin-operators","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/fed-joins-4-agencies-to-demand-id-programs-from-payment-stablecoin-operators\/","title":{"rendered":"Fed Joins 4 Agencies to Demand ID Programs From Payment Stablecoin Operators"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The Federal Reserve and 4 agencies proposed KYC requirements for payment stablecoin issuers on June 18, 2026.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Gov. Michael Barr warned the GENIUS Act fails to adequately address illicit finance risks in stablecoin secondary markets.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">A 60-day public comment period opens before any rule is finalized, with secondary market rules also under review.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>What the Fed Is Proposing<\/h2>\n<p>The Fed\u2019s Board of Governors published a proposal June 18, 2026, that would require certain payment <span>stablecoin<\/span> issuers to maintain formal customer identification programs, commonly known as CIP or KYC requirements.<\/p>\n<p>The proposal mirrors existing requirements applied to banks and credit unions supervised by the Fed. The rule was issued jointly with four other agencies, signaling broad regulatory coordination across the U.S. financial system.<\/p>\n<p>Public comments are due 60 days after the proposal appears in the Federal Register.<\/p>\n<h2>Barr\u2019s Warning: The GENIUS Act Has Gaps<\/h2>\n<p><a href=\"https:\/\/news.bitcoin.com\/powell-fed-independence-warning\/\">Federal Reserve<\/a> Governor Michael S. Barr expressed support for the proposal but delivered a pointed warning alongside it.<\/p>\n<p>\u201cI remain concerned that the GENIUS Act regulatory framework does not do enough so far to address the risks of illicit finance conducted through secondary market transactions in payment <span>stablecoins<\/span>,\u201d Barr said in his official statement.<\/p>\n<p>The GENIUS Act is the recently advanced U.S. legislative framework for <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-are-stablecoins\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">stablecoin<\/a> oversight. Barr\u2019s concern centers on a specific vulnerability: even if primary issuers face KYC rules, bad actors can still move <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-are-stablecoins\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">stablecoins<\/a> through secondary markets with limited oversight.<\/p>\n<h2>The Secondary Market Problem<\/h2>\n<p>Barr noted that while some digital asset service providers face anti-money laundering and counter-terrorism financing requirements in their home jurisdictions, those rules are easy to sidestep in practice.<\/p>\n<p>\u201cIt is far too easy for bad actors to evade these restrictions and operate without detection when transacting in digital assets,\u201d he said.<\/p>\n<p>Barr said he will review public comments on whether any part of the new CIP rule should extend to secondary market activity, and that he plans to assess whether the full GENIUS Act framework provides adequate protection against stablecoin-related illicit finance.<\/p>\n<h2>Why This Matters<\/h2>\n<p>The <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-are-stablecoins\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">stablecoin<\/a> market has grown into a core piece of digital asset infrastructure, with total supply exceeding $300 billion across major issuers. That scale has drawn increasing attention from regulators focused on how <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-are-stablecoins\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">stablecoins<\/a> can move value across borders with speed and relative anonymity.<\/p>\n<p>Requiring payment <a href=\"https:\/\/news.bitcoin.com\/sui-blockchain-registers-65-billion-in-stablecoin-volume-following-major-fee-removal-protocol\/\">stablecoin<\/a> issuers to implement the same identity verification banks use is a direct effort to close that gap at the point of issuance. But Barr\u2019s statement makes clear that issuance is only part of the problem.<\/p>\n<h2>What Comes Next<\/h2>\n<p>The 60-day comment window opens the floor to issuers, financial institutions, consumer groups, and legal experts to weigh in before any rule is finalized.<\/p>\n<p>Barr\u2019s explicit signal that he is weighing secondary market rules suggests this proposal may be the first of several regulatory steps, not the last.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/fed-joins-4-agencies-to-demand-id-programs-from-payment-stablecoin-operators\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways The Federal Reserve and 4 agencies proposed KYC requirements for payment stablecoin issuers on June 18, 2026. Gov. Michael Barr warned the GENIUS Act fails to adequately address illicit finance risks in stablecoin secondary markets. A 60-day public comment period opens before any rule is finalized, [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":74221,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/74220"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=74220"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/74220\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/74221"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=74220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=74220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=74220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}