U.S. OCC Seeks Public Comments on Regulatory Framework for Payment Stablecoins under the GENIUS Act

Mars Finance News: The Office of the Comptroller of the Currency (OCC) has issued proposed rules to establish regulatory requirements for “permitted payment stablecoin issuers” within its jurisdiction, as well as for foreign issuers and certain custodial services; provisions related to BSA/AML and OFAC sanctions will be developed separately by the Treasury Department. Public comments are due within 60 days of publication in the Federal Register.