RIADeFiPublished by Ketju Research
Regulation · Proposal · not in effect

Federal agencies propose customer-identification programs for permitted stablecoin issuers

Regulation · · Ketju Research

Treasury Department · Financial Crimes Enforcement Network

This entry records a proposal. It does not change the law unless it is adopted.

What changed

FinCEN and the federal prudential regulators jointly proposed requiring permitted payment stablecoin issuers to maintain effective customer identification programs under the GENIUS Act and BSA.

Who it affects

  • Permitted payment stablecoin issuers, intermediaries, and advisers assessing issuer controls

What is still open

  • The final identification, verification, recordkeeping, and reliance requirements

What it means for an advisor

  • Evaluate whether stablecoin counterparties are preparing for the proposed CIP framework.

Sources

  1. Permitted Payment Stablecoin Issuer Customer Identification Program · Treasury Department; Financial Crimes Enforcement Network ·

Version 1, published . Educational analysis, not legal advice.