OCC encourages community banks to issue stablecoins as federal deadline nears
Summary
The OCC urged community banks to apply to issue dollar-pegged stablecoins under the GENIUS Act, saying they can help shape payments rather than cede the market to large banks and crypto firms. Federal approval rules take effect Jan. 18, 2027; existing issuers may seek temporary waivers if they submit substantially complete applications by then. The OCC has not opened applications, pending federal paperwork approval. The push comes amid banking groups’ concerns that yield-bearing stablecoins could siphon deposits, and scrutiny of the OCC’s crypto-related trust-bank charter approvals.
