Compliance Weekly Notes
Jun 15 – Jun 21 · 2026-W25
1 event this week
⚡⚡ GENIUS Act CIP rule detailed Compliance
⚡⚡⚡ Warsh's first FOMC + Iran ceasefire + Reg NMS proposal Markets
⚡⚡ Flink 2.3.0 with Native S3 FS Data Engineering
🧠 Feynman Takeaway
FinCEN and agencies proposed the GENIUS Act Customer Identification Program rule — stablecoin issuers must now know their customers.
GENIUS Act CIP Rule: Know Your Stablecoin Customer
In plain English
FinCEN, along with other federal agencies, proposed the Customer Identification Program (CIP) rule implementing the GENIUS Act. Stablecoin issuers would be treated like banks for KYC purposes: verify customer identity, maintain records, and check against sanctions lists.
Analogy
Stablecoins have been like cash — anonymous and hard to trace. The GENIUS Act says 'from now on, using a stablecoin is like using a debit card — you need an account, and the bank knows who you are.'
Why it matters
This completed the 'stablecoin AML trifecta': issuer CIP rules, travel rule compliance, and BSA program requirements. Digital assets were now fully in the AML framework.