Bank Lobby Presses OCC For Clarity On Stablecoin Rewards After Final Rule
The Bank Policy Institute renewed criticism of the OCC’s final stablecoin rule, arguing that its approach to third-party rewards lacks a clear process for explaining and publishing decisions. The dispute centers on whether incentives paid through distributors are effectively issuer-funded rewards, with factors such as funding, purpose and user behavior mattering more than labels. The OCC rule covers reserves, redemption and risk management and takes effect in January; separate work will address anti-money-laundering and sanctions requirements. The article notes that BPI’s concerns about deposit outflows are forecasts, not evidence of measured effects. Published supervisory guidance and decisions could help providers assess how different reward structures will be treated.
