Financial institutions may use a mobile driver’s license or other government-issued virtual ID as a form of documentary verification for ...
On June 27, 2025, the Federal Deposit Insurance Corporation (FDIC), the Office of Comptroller of the Currency (OCC) and the National Credit Union Administration (NCUA) exempted supervised banks and ...
FinCEN's proposed CIP rule for permitted payment stablecoin issuers: Familiar doctrine, new frontier
The proposed rule largely applies existing bank customer identification program (CIP) concepts, such as risk-based procedures, collection of identifying information, documentary and non-documentary ...
Regulators want secondary-market firms with customer relationships brought explicitly into the CIP framework. Direct redemption can create a new relationship between an issuer and a secondary-market ...
The Blockchain Association, an industry advocacy group for digital assets, has voiced strong support for key elements of proposed federal rules implementing customer identification requirements for ...
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