ABA Criticizes OCC Stablecoin Rule as Industry Groups Split on Yield

The American Bankers Association (ABA) criticized the Office of the Comptroller of the Currency’s (OCC) final GENIUS Act rules, arguing that issuers can still route stablecoin rewards through third parties. The Blockchain Association supported the OCC’s decision to remove a proposed presumption against some arrangements, while the Bank Policy Institute largely aligned with the ABA’s concerns. At issue is the OCC’s removal of a proposed presumption that certain third-party reward arrangements would violate the law’s ban on yield payments.

Source: TokenPost