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US stablecoin rules: reported OCC framework retains issuer interest ban
October 21 reports say the US Office of the Comptroller of the Currency has finalized rules implementing the GENIUS Act, with an effective date of January 18, 2027. The framework reportedly sets entry pathways for bank and nonbank payment-stablecoin businesses, alongside standards for foreign issuers and custody.
The reports describe a narrower treatment of certain issuer relationships with third parties than in the proposal, while the statutory ban on issuers directly paying holders interest remains. Officials reportedly intend to assess arrangements case by case and retain enforcement powers against evasion. Watch implementation guidance and actual product structures; this should not be read as blanket approval of every stablecoin reward arrangement.
Reported: 10-21 11:04 UTC