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FollowingCryptocurrency advocacy groups call on regulators to keep stablecoin authentication rules based on direct customer relationships
Cryptocurrency advocacy group The Blockchain Association has asked federal regulators to anchor stablecoin authentication rules on direct customer relationships, warning that extending the rule to point-to-point transfers would make compliance "almost impossible" and "hit the entire industry."
The letter was signed on August 21 by Summer K. Mursinger, former Commissioner of the Commodity Futures Trading Commission and current CEO of the Blockchain Association, and sent letters 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.
