OCC Encourages Community Banks to Pursue Stablecoin Issuance Under GENIUS Act
Photo: TheCoinrise
The regulator wants smaller lenders to prepare stablecoin applications ahead of a formal filing window. The Office of the Comptroller of the Currency is encouraging community banks to consider becoming stablecoin issuers. The push comes under the GENIUS Act, the federal law that created a formal regulatory framework for dollar-pegged digital tokens. Two outlets reported the development, describing the OCC's outreach as an invitation rather than a mandate. The GENIUS Act, enacted to bring clarity to stablecoin issuance, set out licensing and oversight requirements for banks and nonbank firms alike.
Source: TheCoinrise
