U.S. OCC Proposes New Rules for Stablecoin Regulation Under GENIUS Act

The Office of the Comptroller of the Currency (OCC) has proposed a new regulatory framework for stablecoins as part of the implementation of the GENIUS Act. The proposed rules aim to establish a set of standards by which stablecoins can be issued and operated within the U.S. banking system. Key focus areas include the requirements for reserve assets, redemption policies, liquidity and risk management, compliance audits, and supervisory examinations. These proposals align with the OCC's mandate to ensure that the growing stablecoin market advances within a secure and regulatory-compliant financial environment. The initiation of a 60-day public comment period invites feedback from industry players and the public, seeking to refine the regulations before they are finalized. The establishment of AML, BSA, and sanctions-related provisions will follow this initial proposal in collaboration with the U.S. Treasury. This move reflects a significant advancement in the integration of stablecoins into the financial legal framework of the United States, marking a pivotal shift in crypto banking regulation.