Regulators Clear Path For Verifiable Digital Credentials In Customer Identification

Overview

On September 8, 2026, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), together with the staffs of the Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency, issued and revised frequently asked questions (FAQs) addressing the use of state-issued mobile driver’s licenses (mDLs) and other government-issued verifiable digital credentials (VDCs) under the Customer Identification Program (CIP) Rule.¹ For the first time, federal regulators have expressly confirmed that properly authenticated digital credentials may satisfy CIP verification requirements, removing a source of uncertainty that has slowed adoption of digital identity solutions across the financial sector.