News about GENIUS Act

The American Bankers Association (ABA) says the OCC's finalized rules implementing the GENIUS Act undermine Congress's intent on stablecoin yield, despite several positive steps. By dropping a presumption that certain third-party arrangements violated the yield ban, the rules could let issuers offer economically equivalent yield while technically avoiding the prohibition, which the ABA warned could blur the line between stablecoins and bank deposits. The Blockchain Association backed the change, while the Bank Policy Institute sided with the ABA, warning of deposit flight. The OCC finalized its rules ahead of the Act's implementation in January 2027, and the Federal Reserve and Treasury are expected to issue their own GENIUS rules.