OCC Proposes Rule to Implement the GENIUS Act

The Office of the Comptroller of the Currency (OCC) released a notice of proposed rulemaking to implement the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The OCC proposes requirements for stablecoin reserves, redemption and risk management, in addition to licensing and capitalization requirements for permitted payment stablecoin issuers subject to the OCC’s jurisdiction.... By: Orrick, Herrington & Sutcliffe LLP