The Office of the Comptroller of the Currency (OCC) has released a 376-page rulemaking proposal, named the GENIUS Act, that aims to prohibit interest or yield payments on regulated stablecoins. According to reports, the proposal suggests the OCC is aligning with the banking lobby. The proposed rulemaking would presume a stablecoin issuer is "paying interest" if there is any contract, agreement, or arrangement to make payments related to holding the stablecoin. The development signals a potentially significant shift in how stablecoins are regulated and could impact their appeal to investors.

The Office of the Comptroller of the Currency (OCC) has released a 376-page rulemaking proposal, named the GENIUS Act, that aims to prohibit interest or yield payments on regulated stablecoins. According to reports, the proposal suggests the OCC is aligning with the banking lobby. The proposed rulemaking would presume a stablecoin issuer is "paying interest" if there is any contract, agreement, or arrangement to make payments related to holding the stablecoin. The development signals a potentially significant shift in how stablecoins are regulated and could impact their appeal to investors.