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Stablecoin ID rules should exclude P2P transfers: Blockchain Association
Blockchain Association asked five U.S. agencies to clarify that customer identification requirements under the
GENIUS Act apply to direct issuer
relationships, not independent peer-to-peer stablecoin transactions.
Blockchain Association supports primary-market identity checks but opposes extending them to peer-to-peer stablecoin transfers downstream.
Five federal agencies proposed joint identification standards for permitted
payment stablecoin issuers in June 2026.
Issuers would collect names, addresses, birth or formation dates and identification numbers from customers directly.
Final rules would take effect twelve months after issuance under agencies' proposed compliance timeline currently.
GENIUS Act generally begins restricting unlicensed U.S. payment stablecoin issuance on January 18, 2027, nationwide.#BTCBreaks$81k #CandyDrop1BTCForOldUsers #StakeALIGNShare10MTokens #TopFiveLeaguesPreMatchPredictor #GateStockInsightsChallenge