S&P 5007,785.76▼0.2% Nasdaq26,729.16▼0.3% Dow53,732.41▼0.2% Russell 2K3,068.42▲0.5% 10-Yr4.70%+6bp VIX14.25−0.38 WTI$82.40▲1.4% Gold$4,432.00▲1.6% EUR/USD1.157▲0.4% BTC$79,171▲0.3% Nikkei68,309▲1.2%
At close · Fri, Aug 14, 2026
Daily Market Updates.

Crypto

Home›Crypto›Regulation›Crypto group warns against expanding stablecoin KYC fo…

Crypto group warns against expanding stablecoin KYC for wallet transfers

The group says proposed changes tied to the GENIUS Act would require identity checks for peer to peer stablecoin wallet transfers.

Reported · Written up by our desk · Regulation

A crypto industry group is warning regulators against expanding stablecoin KYC requirements to cover peer to peer wallet transfers, arguing that the added identity verification would harm the market.

According to Decrypt, the group warned the approach would “cripple the industry” as regulators move forward with implementation of the GENIUS Act.

The group’s concern centers on how wallet-to-wallet stablecoin activity could be treated under expanded verification rules, rather than restricting KYC only to other parts of the stablecoin ecosystem.

← Newer storyDeveloper moves ahead with $240M mixed-use Bella Prosper project

More like this

CryptoU.S. sanctions target Iran’s digital asset sector under existing authorities
CryptoSEC docket documents describe a proposed GTA VI in-game currency
CryptoHuman Rights Foundation backs 16 Bitcoin Development Fund projects
CryptoCrypto fund founder convicted over fake trading bot scheme
CryptoUS expands Iran sanctions to target digital assets and other sectors

Sources

DecryptCrypto Group Warns Regulators Against Expanding Stablecoin KYC

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.