TechFlame News — According to the Federal Reserve’s official website, the Federal Reserve Board is soliciting public comment on a proposal that would require certain issuers of payment stablecoins to establish and maintain effective Customer Identification Programs (CIPs). The proposal was jointly released by the Federal Reserve and four other agencies. Under the proposal, relevant stablecoin issuers would be required to adhere to customer identification standards similar to those applicable to banks and credit unions. The comment period will be open for 60 days after the proposal is published in the Federal Register.