OCC approves GENIUS Act, bans direct interest on stablecoins but allows bonuses

American cryptocurrency users will still have opportunities to earn rewards on their stablecoin holdings, as the Office of the Comptroller of the Currency (OCC) has finalized the GENIUS Act regulations. These rules mark a significant change to the relationship between stablecoins and the US financial system by outlawing traditional deposits and the payment of direct interest on digital dollars. The new regulations are scheduled to come into effect on January 18, 2027. With the GENIUS Act, the United States has enshrined a sharp distinction between stablecoins as digital money and stablecoins as investment tools.

Source: CoinTurk News