OCC Proposes Regulations for Permitted Payment Stablecoin Issuers

Summary

The Office of the Comptroller of the Currency, in collaboration with the Department of the Treasury's Financial Crimes Enforcement Network and the Office of Foreign Assets Control, is set to issue new regulations to ensure compliance with the Bank Secrecy Act and sanctions regulations for stablecoin issuers operating under the OCC's jurisdiction, as mandated by the Guiding and Establishing National Innovation for U.S. Stablecoins Act.