OCC Proposes Rulemaking for GENIUS Act on Stablecoins

The Office of the Comptroller of the Currency (OCC) has issued a proposed rulemaking to implement the GENIUS Act, focusing on stablecoin regulations. The proposal invites public comments to shape the regulatory framework for stablecoins, aiming to ensure their safe and sound use within the financial system. This move marks a significant step in formalizing the oversight of digital currencies by U.S. financial authorities.