...Powell supports, Warsh abstains.

The proposed rulemaking establishes how U.S. crypto companies will have to screen stablecoin customers after the passage of the GENIUS Act.

The Fed rolled out a rule requiring stablecoin issuers to have a program in place to identify customers to combat illicit finance.

The Federal Reserve proposed requiring stablecoin issuers to verify customer identities before account opening or direct token redemption, extending bank-style anti-money…

The Federal Reserve proposed new rules requiring stablecoin issuers to screen customers under the GENIUS Act. Powell supports the move while Warsh abstains.

The Fed and 4 agencies propose KYC rules for payment stablecoin issuers as Gov. Barr flags GENIUS Act illicit finance gaps.

...Powell supports, Warsh abstains.

The banks aren't going to like this.