Permitted Payment Stablecoin Issuer Customer Identification Program

FinCEN and the federal banking regulators propose classifying permitted payment stablecoin issuers as Bank Secrecy Act financial institutions and requiring each to run a customer identification program, implementing the GENIUS Act.

The new duties bind stablecoin issuers, not BlockQuake's exchange, custody, or staking lines, so its direct burden is minimal; relevance is indirect — the issuers behind the stablecoins it lists gain BSA/CIP obligations, and the GENIUS Act framework BlockQuake tracks advances.

Diligence stablecoin-issuer partners for readiness and monitor the docket; if BlockQuake ever issues its own payment stablecoin, this rule becomes directly binding.