The U.S. Banking Group called for the inclusion of a second level of stable currency in customer identification requirements

On 23 August, according to News.bitcoin, the American Institute of Banking Policy (Bank Policy Institute, BPI), representing Morgan Chase, Bank of America, Bank of Rich Countries, Citigroup and other large banks, submitted a letter of opinion to FinCEN (Financial Crime Enforcement Network), requesting the extension of the Customer Identification Scheme (CIP) from the issuer of the stable currency to the secondary market. BPI emphasizes that secondary markets (including the Centralized Exchange and the Decentralized Exchange) play an important role in stabilizing the purchase and sale of currency, and that most illegal activities involving the Stabilized Currency occur here. Exchanges and platforms that establish account relationships with retail customers and contribute to the stabilization of currency transactions are proposed to be included in the CIP requirements under the Bank Secrecy Act (BSA) to enforce the collection of user identification information. FinCEN has pointed out in the proposed rules that extending identity collection to secondary markets is “operationally challenging”. Block-chain transactions are often anonymous or pseudo-aligned, lack centralized information collection points and make it difficult for distributors to access secondary market customer information。