CryptoBearishFederal Reserve Press · 4h ago7/10
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Federal Reserve Board requests comment on proposal to require certain payment stablecoin issuers to maintain an effective customer identification program
The Federal Reserve Board has opened a public comment period on a proposed rule requiring certain payment stablecoin issuers to implement effective customer identification programs (CIPs). This regulatory action aims to extend Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance requirements to stablecoin issuers, marking a significant step toward mainstream financial oversight of digital assets.