OCC Invites Community Banks to Seek Stablecoin Issuer Approval Before Applications Open

The national bank regulator wants community banks, or their subsidiaries, to apply to issue payment stablecoins under the GENIUS Act, though it can’t take applications until the White House budget office signs off on its forms. Community banks should consider seeking approval to issue payment stablecoins under the GENIUS Act, on their own or through a subsidiary where that route applies, the Office of the Comptroller of the Currency (OCC) said on Oct. 26.