GENIUS Act News: OCC Final Rule Drops Stablecoin Yield Curbs, Banks Push Back
Photo: Coinpedia
The Office of the Comptroller of the Currency has finalised its rule implementing the GENIUS Act and removed earlier proposed limits on stablecoin rewards, journalist Eleanor Terrett reported. The decision leaves unresolved a major dispute between banks and crypto firms over whether platforms can pay users yield on stablecoin balances. The American Bankers Association criticised the rule, saying it would preserve the status quo for crypto platforms. ABA CEO Rob Nichols argued that waiting until deposits leave banks before acting is the wrong approach.
Also reported by The Defiant.
Source: Coinpedia
