OCC Proposes New Rules for Stablecoin Issuers

The U.S. Office of the Comptroller of the Currency (OCC) has released a proposed rule to implement the GENIUS Act, seeking public feedback. According to BlockBeats, this framework aims to establish basic regulations for licensed stablecoin issuers under OCC supervision and foreign payment stablecoin issuers, while also addressing specific custodial activities. OCC Inspector General Jonathan Gould stated that the objective of the rule is to create a system where stablecoins can "thrive in a safe and sound manner." Notably, the rule does not currently include provisions related to anti-money laundering (BSA/AML) and the Office of Foreign Assets Control (OFAC), which will be addressed separately in coordination with the Treasury Department.