US Banks Have Only 4 Days Left to Shape GENIUS Act Stablecoin Rules at OCC
BeInCrypto
U.S. banks have until May 1 to submit feedback on the OCC’s proposed regulatory framework for stablecoin issuance under the GENIUS Act.Summary
The Office of the Comptroller of the Currency (OCC) is nearing the end of its 60-day comment period for the GENIUS Act, which aims to establish a federal regulatory framework for stablecoin issuance. This proposal introduces a two-tier licensing system, placing compliance responsibilities on issuers, and provides the legal clarity many corporate treasurers have been seeking. While the industry is eager for formal guidance to accelerate adoption, the American Bankers Association has requested an extension to review the complex, 376-page rule.
(Source：BeInCrypto)