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OCC Urges Community Banks to Enter the Payment Stablecoin Market
The US Office of the Comptroller of the Currency (OCC) has urged community banks to become issuers of payment stablecoins. The statement followed the regulator's approval of final rules under the GENIUS Act.
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According to CoinDesk and Cointelegraph, the OCC urged community banks to enter the payment stablecoin market and issue such tokens themselves.
As Cointelegraph notes, the appeal came after the banking regulator approved final rules for implementing the GENIUS Act. According to the outlet, this stablecoin law is due to take effect in January.
The sources do not say how many banks may be interested in issuing stablecoins and do not provide estimates of the market size. The entry of regulated banks may increase competition among issuers, but the scale of the effect is still unclear.
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Cointelegraph
Medios especializados · EN · publicado 26 oct, 21:38
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Etiquetas: #OCC#Stablecoins#GENIUS Act#USA#Banks