[The Bank Policy Institute Suggests Expanding Stablecoin Customer Identification Requirements to the Secondary Market] According to Bitcoin.com, the Bank Policy Institute (BPI) has submitted a letter of opinion to the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury, recommending that the customer identification program (CIP) requirements for stablecoins be expanded to the secondary market. The Bank Policy Institute (BPI) suggests that exchanges and other platforms that establish direct account relationships with retail customers and provide stablecoin trading services should implement customer identification requirements in accordance with the Bank Secrecy Act (BSA). The recommendation also covers certain decentralized market participants. FinCEN pointed out that expanding identity information collection to the stablecoin secondary market poses practical challenges, as on-chain traders often use anonymous or pseudonymous identities, and blockchain lacks a centralized node for unified identity information collection. Additionally, stablecoin issuers have limited ability to obtain customer information from the secondary market.