Federal Reserve Board – Federal Reserve Board requests comment on proposal to require certain payment stablecoin issuers to maintain an effective customer identification program

The Federal Reserve Board on Thursday requested comments on a proposal to require certain issuers of stable payment coins to maintain an effective customer identification program. The proposal would introduce requirements for these stablecoin issuers that are comparable to customer identification program requirements for banks and credit unions. The proposal is issued jointly with four other agencies.

Comments on the proposal must be submitted 60 days after publication in the Federal Register.

For media inquiries please email (email protected) or call 202-452-2955.