The Office of the Comptroller of the Currency (OCC) has issued a Notice of Proposed Rulemaking (NPRM) to implement the GENIUS Act and is seeking public comments on rules applicable to OCC-licensed payment stablecoin issuers, foreign payment stablecoin issuers, and certain custodial activities conducted by OCC-regulated entities. The OCC stated that the accompanying rules regarding BSA/AML and OFAC sanctions will be developed separately in coordination with the U.S. Department of the Treasury.
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The Office of the Comptroller of the Currency (OCC) has issued a Notice of Proposed Rulemaking (NPRM) to implement the GENIUS Act and is seeking public comments on rules applicable to OCC-licensed payment stablecoin issuers, foreign payment stablecoin issuers, and certain custodial activities conducted by OCC-regulated entities. The OCC stated that the accompanying rules regarding BSA/AML and OFAC sanctions will be developed separately in coordination with the U.S. Department of the Treasury.