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Fed proposes mandatory customer identification for payment stablecoin issuers

The U.S. Federal Reserve has issued a draft rule that would require payment stablecoin issuers to conduct customer identification checks. The proposal would require issuers to collect legal name, date of birth or formation, physical address and a government ID number before opening a new customer account. The Fed will take public comments for 60 days. The move follows the Genius Act signed in July 2025 and aligns with other U.S. agencies\' stablecoin-related rulemaking.

Crypto

Eight big U.S. banks press for easing Basel capital rules; focus on Treasury market liquidity and bitcoin impact

Major U.S. banks are seeking to ease capital rules introduced after the 2008 financial crisis, arguing the Basel framework being pursued could reduce U.S. Treasury market liquidity and weaken market functioning. Regulators are reviewing possible adjustments to balance financial stability and market efficiency. Banks say the new Basel capital rules could sharply raise trading-unit capital burdens. Markets are watching potential effects on lending capacity, liquidity and risk appetite, including possible spillovers to bitcoin and stablecoins.

Crypto

Trump-linked World Liberty seen nearing U.S. federal trust bank charter

World Liberty Financial, a cryptocurrency project linked to U.S. President Donald Trump’s family, is expected to soon receive a federal trust bank charter, The Block reported on Tuesday. It said OCC head Jonathan Gould plans to announce a decision, with two former OCC staffers saying approval is nearly certain. The charter would let World Liberty issue and redeem its USD1 stablecoin and offer custody and settlement under a single federal regime.