Press release: FinCEN, Agencies Propose Rule to Implement GENIUS Act CIP Requirement
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Research, not advice. Part of the Bitcoin research archive (October 2026). Claims labelled unverified, contested or fringe are reported, not endorsed; statuses of bills and rules are as of the date checked. Government, court and patent records are public domain; the research notes are CC BY 4.0.
FinCEN, Agencies Propose Rule to Implement GENIUS Act Customer Identification Program Requirement | FinCEN.gov
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FinCEN, Agencies Propose Rule...
FinCEN, Agencies Propose Rule to Implement GENIUS Act Customer Identification Program Requirement
Immediate Release
June 18, 2026
WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), together with the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration issued a joint proposed rule to implement provisions of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act).
The GENIUS Act directs that permitted payment stablecoin issuers be treated as financial institutions under the Bank Secrecy Act and be required to maintain effective customer identification programs. The proposal seeks to provide an appropriately tailored regime that mitigates potential illicit finance risks while protecting the U.S. financial system and national security interests.
Read more about the proposed rule here. FinCEN welcomes public comment on the proposal, which will be published in the Federal Register.
In a separate rulemaking, FinCEN proposed a rule to implement the GENIUS Act’s directive to apply other anti-money laundering obligations for permitted payment stablecoin issuers.
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