Crypto & Finance · VIDEO
ABA Criticizes OCC Rules on Stablecoins: Risk to US Economy
The American Bankers Association (ABA) has expressed concern over the finalized rules by the OCC on the GENIUS Act, arguing that changes to the yield provisi...
KEY TAKEAWAYS
- The OCC has removed a key provision that would have indirectly banned yield payments through agreements with affiliates and distribution partners.
- The ABA fears this decision could undermine the distinction between stablecoins and traditional bank deposits, putting at risk the funds used for loans that support the US economy.
- The Blockchain Association has approved the amendment, while the Bank Policy Institute has expressed concerns similar to those of the ABA.
- The rules finalized by the OCC will go into effect in January 2027, with other government departments preparing to release related regulations.
