OCC releases proposed rule to implement payment stablecoin legislation
By ABA Banking Journal Staff
AI Summary
The OCC has proposed a rule to implement the Genius Act, addressing how it will handle the prohibition on paying interest or yield on payment stablecoins. The proposal aims to provide clarity on regulatory expectations for credit unions and other financial institutions.
Texas Relevance
The article does not explicitly mention Texas, TX, TCUD, or any Texas-specific entities. It is a general federal proposal that applies to all credit unions but lacks specific relevance to Texas CUs.
Original Content
The OCC released a proposed rule to implement the Genius Act, including how it would handle the law’s prohibition on paying interest or yield on payment stablecoins. The post OCC releases proposed rule to implement payment stablecoin legislation appeared first on ABA Banking Journal .