TechFlow reports that on February 26, cryptocurrency journalist Eleanor Terrett reported the Office of the Comptroller of the Currency (OCC) issued a proposed rule to implement the GENIUS Act and is seeking public comment. This framework will establish baseline requirements for licensed stablecoin issuers and foreign payment stablecoin issuers under OCC supervision, while also covering certain custodial activities.
OCC Comptroller Jonathan Gould stated that the rule aims to create a system in which stablecoins can “thrive in a safe and sound manner.” Notably, the rule does not yet include provisions related to anti-money laundering (BSA/AML) or the Office of Foreign Assets Control (OFAC); these matters will be addressed separately in coordination with the Department of the Treasury.
