Permitted Payment Stablecoin Issuer Customer Identification Program
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- Title
- Permitted Payment Stablecoin Issuer Customer Identification Program
The Financial Crimes Enforcement Network (FinCEN), together with the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA) are jointly issuing this proposed rule to implement certain provisions of the Guiding and Establishing National and Innovation for U.S. Stablecoins Act (GENIUS Act). Specifically, this rulemaking implements the GENIUS Act’s directives to treat permitted payment stablecoin issuers as financial institutions under the Bank Secrecy Act and to require issuers to maintain an effective customer identification program.
- Posted
- Jun 23, 2026
- Comment period
- Jun 21, 2026 – Aug 22, 2026
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| Organization | Digital identity and verifiable credentials |
|---|---|
KillChain, Inc. d/b/a FLINT Network BusinessSupport KillChain, Inc. |
Explorer
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- Jun 27, 2026KillChain, Inc. d/b/a FLINT NetworkSupportBusiness📎 Attachment
KillChain, Inc. (doing business as FLINT Network), a technology provider for AI agent identity and fraud protection, supports the proposed rule for a risk-based, technology-neutral customer identification program (CIP) for stablecoin issuers. They argue that the final rule should explicitly recognize verifiable credentials and signed verification records as valid non-documentary verification methods, specifically to account for non-human autonomous agents exercising delegated financial authority.
Read comment → - Jun 27, 2026Jeremy TurnerOpposeIndividual
The commenter opposes the proposed rule, arguing that it imposes excessive regulatory burdens on blockchain technology that stifle innovation and undermine the permissionless nature of decentralized finance. They also express concerns that the mandate will fail to stop illicit actors while creating significant privacy risks and data security vulnerabilities for law-abiding users.
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