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Deep Tide TechFlow News, February 26 — According to crypto journalist Eleanor Terrett, the Office of the Comptroller of the Currency (OCC) today issued a proposed rule to implement the GENIUS Act and is seeking public comment. The framework will establish basic rules for OCC-regulated licensed stablecoin issuers and foreign payment stablecoin issuers, while also covering specific custodial activities.
OCC Comptroller Jonathan Gould stated that the goal of the rule is to create a system where stablecoins can "thrive in a safe and sound manner." Notably, the rule currently does not 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.