OCC Seeks to Eliminate All Stablecoin Yield with Proposed Prohibition

The Office of the Comptroller of the Currency (OCC) further allied itself with the banking lobby in a recently released 376-page GENIUS Act rulemaking proposal, which details how the regulator will prohibit interest or yield payments on regulated stablecoins. What's the Scoop? * Blanket Ban: The OCC's newly proposed rulemaking would presume stablecoin issuer are "paying interest" if the issuer has any type of contract, agreement, or arrangement to make payments in connection to the holding, source: https://www.bankless.com/occ-seeks-to-eliminate-all-stablecoin-yield-with-proposed-prohibition