OCC Sets Federal Banking Rules for Payment Stablecoin Issuers
Photo: TokenPost
The Office of the Comptroller of the Currency finalized a payment-stablecoin framework Oct. 21, setting issuer expectations for reserves, redemptions, risk controls and custody as federal oversight takes shape. The framework sets standards for reserve backing and redemptions, calls for risk-management practices, and includes custody. Taken together, those subjects place financial safeguards and operational oversight at the center of the OCC’s payment-stablecoin rule. Payment stablecoins form a segment of the cryptocurrency market. The OCC oversees national banks and federal savings associations, including institutions involved in digital-asset activities, giving the agency a banking role in this area.
Source: TokenPost
