The Federal Reserve Board has requested comment on a proposal that would require certain payment stablecoin issuers to maintain an effective customer identification program. The measure would apply customer identification expectations to those issuers on a basis comparable to the requirements already used for banks and credit unions. The proposal is being issued jointly with four other agencies. Comments are due 60 days after publication in the Federal Register.
Federal Reserve Board2026-06-18
Federal Reserve Board launches joint proposal to require customer identification programs for certain payment stablecoin issuers
The Federal Reserve Board has opened a joint consultation on requiring certain payment stablecoin issuers to maintain an effective customer identification program. The proposal would align those expectations with customer identification program requirements for banks and credit unions. Comments are due 60 days after publication in the Federal Register.