The Office of the Comptroller of the Currency encouraged interested community banks to consider applying to become permitted payment stablecoin issuers, or to have a subsidiary apply, as applicable. The regulator cited its finalized rules for the GENIUS Act; the source says the law is set to be enforced starting in January but does not give a year.
Banking advocacy groups have objected to the OCC’s separate proposed rules on stablecoin yield. Community banks are also challenging the OCC’s approval of charter applications from crypto companies in court.
