U.S. agencies seek stablecoin customer-ID rules akin to banks in new GENIUS Act pitch
CoinDesk·
60-second summary
The Federal Reserve, Treasury, and other U.S. agencies have proposed a rule to set stablecoin customer-ID standards, akin to those in traditional banking, as part of the GENIUS Act. The proposed rule is now open for public comments, aiming to increase regulatory oversight and protect consumers.
The Federal Reserve, Treasury and other regulators have issued a proposed rule that would set identification standards, and it's now open for public comments.