OCC encourages community banks to enter US stablecoin market
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The US Office of the Comptroller of the Currency (OCC) has urged community banks to consider issuing payment stablecoins under the framework established by the GENIUS Act.
In a Monday post on X, the regulator encouraged banks to apply for issuer status or establish subsidiaries to issue stablecoins. The legislation is due to take effect in January.
The move comes as banking groups challenge the OCC’s final rules on stablecoin rewards, arguing that the regulator’s approach does not reflect Congress’ intent.
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