The Federal Reserve is trying to fit stablecoins into banking regulations. With a 60-day window, the industry needs to speak up quickly.

CryptoWorld News: The Federal Reserve Board proposes requiring certain payment stablecoin issuers to establish effective customer identification programs. The proposal requires stablecoin issuers to implement customer identification procedures comparable to those of banks and credit unions. This proposal is jointly issued by the Federal Reserve Board and four other agencies, and the public can submit comments within 60 days of the proposal’s publication in the Federal Register.