OCC Finalizes GENIUS Act Rules, Drops Third-Party Yield Presumption
• OCC is the first regulator to finalize a GENIUS Act stablecoin rule; it takes effect Jan 18, 2027
• It covers licensing for bank and non-bank issuers, foreign issuers and custody
• The draft presumption against third-party rewards is gone; rewards get case-by-case review
• The American Bankers Association says the rule undermines Congress
Good news for platforms offering rewards, bad news for banks defending deposits, and the fight is far from over. Not financial advice, DYOR.
#GENIUSAct #Stablecoin
• OCC is the first regulator to finalize a GENIUS Act stablecoin rule; it takes effect Jan 18, 2027
• It covers licensing for bank and non-bank issuers, foreign issuers and custody
• The draft presumption against third-party rewards is gone; rewards get case-by-case review
• The American Bankers Association says the rule undermines Congress
Good news for platforms offering rewards, bad news for banks defending deposits, and the fight is far from over. Not financial advice, DYOR.
#GENIUSAct #Stablecoin