The Blockchain Association said it supports federal-level identity check rules for stablecoins, while urging regulators not to apply those requirements to person-to-person transfers in secondary markets. The group argued that extending identity verification obligations to P2P transfers would create unnecessary compliance burdens for users and market participants. It also said such a move could hold back innovation. The position was cited by Techub News, with Crypto.news named as the source in the brief. No additional details on a specific proposal, agency, or timeline were provided in the item.
The Blockchain Association said it supports federal-level identity check rules for stablecoins, while urging regulators to exempt person-to-person, or P2P, transfers in secondary markets from those requirements.
The group said imposing identity verification obligations on P2P transfers would create unnecessary burdens and could hinder innovation.
The brief was carried by Techub News and cited Crypto.news as the source.
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