Circle and Paxos Launch Stablecoin Verification System to Meet US Regulations

Circle and Paxos have launched a pilot program aimed at verifying stablecoin issuers and combating counterfeit tokens. The initiative, incorporating the “know-your-issuer” (KYI) tool, enhances transparency and regulatory compliance by embedding issuer credentials within transactions. This comes amid the rapid expansion of stablecoins in response to new U.S. regulations like the GENIUS Act.