ChainCatcher reports, citing sources familiar with the matter, that the Trump administration is considering an executive order requiring banks to collect customer citizenship data as part of its immigration enforcement efforts.
Sources say the initiative is primarily being evaluated by the U.S. Department of the Treasury and may ultimately require banks to request a new, unprecedented type of documentation from both new and existing customers who wish to maintain bank accounts in the United States, such as passport information.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Brazil Pauses Crypto Tax Talks Ahead of October Vote
Brazil has postponed its crypto tax consultation to 2027 due to election pressures, despite implementing a 17.5% capital gains tax and classifying stablecoins as foreign exchange. Crypto adoption remains robust, with significant inflows and growth.
CryptoFrontNews2h ago
CFTC Allows Bitcoin and Ethereum as Margin Collateral
CFTC permits Bitcoin, Ethereum, and stablecoins as margin collateral with strict valuation haircuts and risk controls applied.
Stablecoins receive lower capital charges than BTC and ETH, reflecting reduced volatility in margin calculations.
Firms must meet reporting, cybersecurity, and ap
CryptoFrontNews7h ago
SEC and CFTC Establish Crypto Taxonomy With Five Key Categories
U.S. regulators established a framework to classify digital assets into five groups, enhancing jurisdiction clarity. This includes commodities overseen by the CFTC and securities by the SEC, with special treatment for stablecoins and utility tokens based on usage.
CryptoFrontNews10h ago
Brazil Postpones Crypto Tax Policy Until After 2026 Elections
Brazil's Finance Minister Dario Durigan has suspended new crypto tax policies until after the 2026 presidential election to avoid divisiveness. Previously proposed public consultations on crypto taxes may now be postponed until 2027, while the country navigates its growing crypto landscape.
TapChiBitcoin11h ago
Crypto Bill: Galaxy Research Warns of Remaining Regulatory Hurdles - U.Today
The tentative agreement on stablecoin rewards revives the stalled CLARITY Act, yet unresolved issues threaten its passage as the industry faces a tight deadline for comprehensive legislation this year.
UToday11h ago
Senators Strike Stablecoin Deal, CLARITY Act Moves Forward
Lawmakers have reached a bipartisan agreement to resolve the stablecoin yield dispute, a key roadblock for crypto legislation. The deal, involving Senators Tillis and Alsobrooks, aims to balance innovation and banking stability while moving the CLARITY Act forward. Further industry review is needed before finalizing details.
CryptoFrontNews11h ago
