The American Bankers Association (ABA) has expressed concerns regarding the Office of the Comptroller of the Currency (OCC) final rules for the GENIUS Act. The association argues that the regulator's interpretation of stablecoin issuance and custody provisions deviates from the original intent of Congress.
The ABA specifically criticized the removal of safeguards that were intended to prevent indirect yield arrangements involving affiliates and exchanges. According to the association, this change allows issuers to provide economically equivalent yield while technically circumventing statutory prohibitions on such payments.
The Bank Policy Institute supported the ABA position, warning that the omission of yield presumptions creates ambiguity and risks deposit flight. Conversely, the Blockchain Association welcomed the adjustment, stating that the final rule now aligns more closely with the statutory text.
The GENIUS Act was passed by Congress in July 2025 and is scheduled for implementation in January 2027. The OCC finalized its rules ahead of this date, while other agencies, including the Federal Reserve and the Treasury, are expected to release their own guidelines regarding stablecoin oversight.
