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Banking lobby presses OCC over final Genius Act rules
Original: Reg Wrap: banking lobby flogs OCC over final Genius Act rules
Banking industry groups are pushing the Office of the Comptroller of the Currency over the final implementing rules for the Genius Act, the US stablecoin legislation. According to The Banker's regulatory roundup, the lobby is criticising how the OCC is shaping the rulebook for stablecoin issuers and bank involvement in digital assets. The dispute centres on how strict the final standards will be for banks entering the stablecoin market.
Why now: The final Genius Act rules will determine how US banks can participate in the stablecoin market, making the OCC's approach a live industry fight.
OCCGenius Actbanking lobbyThe Banker
Evidence
- Reg Wrap: banking lobby flogs OCC over final Genius Act rules · TheBanker.com
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