The crypto advocacy group Blockchain Association has asked federal regulators to keep stablecoin identity-verification rules anchored to direct customer relationships, warning that extending
The crypto advocacy group Blockchain Association has asked federal regulators to keep stablecoin identity-verification rules anchored to direct customer relationships, warning that extending them to peer-to-peer transfers could make compliance ‘nearly impossible’ and ‘cripple the industry.’
Signed on August 21 by CEO Summer K. Mersinger, a former CFTC commissioner, the letter was addressed to five federal financial regulators: the Financial Crimes Enforcement Network, the Office of the Comptroller of the Currency, the Federal Reserve, the Federal Deposit Insurance Corporation, and the National Credit Union Administration.
