OCC issues rule: Implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act for the Issuance of Stablecoins by Entities Subject to the Jurisdiction of the Office of the Comptroller of the Currency

What happened

• The OCC issued regulations implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act.
• The rule covers payment stablecoin issuance and certain related activities by entities under OCC jurisdiction.
• Stablecoin issuers are barred from directly paying customers yield; third-party yield arrangements will be evaluated case by case.

Why it matters

The rule establishes compliance parameters for OCC-supervised stablecoin issuers and may affect product design, customer incentives and regulatory risk for financial institutions.

Timeline

1. First reported by Banking DiveOct 21
   OCC issues final rule on stablecoin framework
2. Federal Register reportsOct 23
   OCC issues rule: Implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act for the Issuance of Stablecoins by Entities Subject to the Jurisdiction of the Office of the Comptroller of the Currency

Sources (2)

1. Banking DiveOct 21
   OCC issues final rule on stablecoin framework
2. Federal RegisterOct 23
   OCC issues rule: Implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act for the Issuance of Stablecoins by Entities Subject to the Jurisdiction of the Office of the Comptroller of the Currency