OCC Pushes Community Banks Toward Stablecoin Issuance Under GENIUS Act
The Office of the Comptroller of the Currency is encouraging U.S. community banks to become permitted stablecoin issuers under the GENIUS Act, a significant regulatory development that could expand institutional crypto participation.
What we know
@TheBlockCo reports the OCC is actively reaching out to community banks to position them as stablecoin issuers under the GENIUS Act framework. This comes alongside polling data shared by an account on X showing 74% of Americans value financial privacy and 80% want more data control — a backdrop that could fuel demand for privacy-preserving crypto payment rails.
How the story developed
The Office of the Comptroller of the Currency is encouraging U.S. community banks to become permitted stablecoin issuers under the GENIUS Act, a significant regulatory development that could expand institutional crypto participation.
Ripple's RLUSD stablecoin has received final approval from the Office of the Comptroller of the Currency, marking a significant regulatory milestone for the company.
Ripple has received final OCC approval to operate as a national trust bank, a major regulatory milestone enabling $RLUSD support and institutional digital asset custody.
Ripple officially received full US regulatory approval to operate as a national trust bank, a major milestone for XRP and crypto regulatory legitimacy.
Sources
“The OCC is encouraging U.S. community banks to consider becoming permitted stablecoin issuers under the GENIUS Act”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.