The Blockchain Association is urging federal regulators to limit stablecoin identity checks to direct relationships between issuers and their customers. In a comment letter addressed to five federal financial regulators, the group warned that extending KYC requirements to peer-to-peer transfers could cripple the industry. The association supported the decision to exclude secondary transfers from Customer Identification Program requirements while seeking clearer limits on their application. It also called for rules allowing issuers to use modern identity verification methods, including zero-knowledge proofs and digital identity tools.
Source: Read the original article
