CNW CurrenSees
Exploring the policies, markets and global events influencing currencies and the movement of money worldwide
- Proposal would require payment stablecoin issuers to implement customer identification programs similar to those used by banks and broker-dealers
- Regulators seek comment on digital identity tools, verifiable credentials and stablecoin market structure
- Rule aims to strengthen anti-money-laundering safeguards and align stablecoin oversight with existing financial regulations
June 18, 2026 – via CurrencyNewsWire — The Financial Crimes Enforcement Network (“FinCEN”), together with federal banking regulators, has proposed new customer identification program (“CIP”) requirements for payment stablecoin issuers, a move designed to bring portions of the rapidly growing stablecoin market under a regulatory framework similar to that applied to traditional financial institutions.
Under the proposal, payment stablecoin issuers would be required to establish and maintain customer identification programs intended to verify customer identities and support anti-money-laundering and counter-terrorist financing efforts. Regulators are also seeking public comment on the use of digital identity solutions and verifiable credentials, as well as whether certain requirements should extend beyond direct issuer-customer relationships into secondary-market stablecoin activity.
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