BlockBeats News, February 26th. According to crypto journalist Eleanor Terrett, the Office of the Comptroller of the Currency (OCC) today released a proposed rule implementing the GENIUS Act and is seeking public input. This framework will establish basic rules for OCC-regulated charter stablecoin issuers and foreign payment stablecoin issuers, while also covering certain custody activities.
OCC Acting Comptroller Jonathan Gould stated that the goal of this rule is to establish a system where stablecoins can “thrive in a safe and sound manner.” It is worth noting that the rule does not currently include provisions related to the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and the Office of Foreign Assets Control (OFAC), which will be addressed separately after coordination with the Treasury Department.
