Agencies Request Comment on Customer Identification Program Requirements for Permitted Payment Stablecoin Issuers

FinCEN, alongside the FDIC, OCC, Federal Reserve Board, and NCUA, is requesting public comment on a proposed rule establishing customer identification program requirements for permitted payment stablecoin issuers under the GENIUS Act. The 60-day comment period begins upon Federal Register publication, with NCUA Chairman Kyle Hauptman describing it as the next step to integrate stablecoin issuers into Bank Secrecy Act regulations.