ABA Displeased as OCC's Final GENIUS Act Rule Abandons Proposed Stablecoin Yield Restrictions

BlockBeats news, October 22 — Crypto journalist Eleanor Terrett posted that the American Bankers Association (ABA) has expressed dissatisfaction with the Office of the Comptroller of the Currency (OCC)'s final rules implementing the GENIUS Act. The OCC abandoned previously proposed restrictions on stablecoin yield, which the ABA believes will "maintain the status quo for crypto platforms."

The ABA CEO said: "Trying to address these issues after deposit outflows and economic damage have already occurred is the wrong approach."