American Bankers Association Says OCC GENIUS Act Rules Undermine Congress

TLDR The American Bankers Association criticized the OCC’s final GENIUS Act rules on stablecoin issuance and custody. The OCC dropped a proposed provision that would have presumed certain third-party yield arrangements break the law. The ABA says issuers can now offer yield-like rewards through affiliates and exchanges while avoiding the ban. The Blockchain Association backed [...]

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