America

The Office of the Comptroller of the Currency (OCC) has petitioned community banks to enter the payment stablecoin market as part of the regulator’s rules on the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act.
In a Monday X post, the OCC <a href="https://x.com/USOCC/status/2114703676501574088" rel="noopener noreferrer nofollow">said</a> that it was “encouraging the development of payment stablecoin capabilities within the community banking sector,” citing its finalized rules for the GENIUS Act. The payment stablecoin law is set to be enforced starting in January, and the OCC <a href="https://ct.com/news/occ-finalizes-genius-act-rules-stablecoin-issuers-custody" rel="noopener noreferrer nofollow">finalized its rules for the bill</a> last week.
“Interested community banks are encouraged to consider applying to become, or for a subsidiary to become, a permitted payment stablecoin issuer, as applicable,” said the US banking regulator.&nbsp;
The plea to community banks came as many banking advocacy groups pushed back against the OCC’s proposed rules on stablecoin yield, with some arguing that they <a href="https://ct.com/news/american-bankers-association-occ-genius-rules-stablecoins" rel="noopener noreferrer nofollow">went against the congressional intent</a> behind GENIUS. If enough community banks were to enter the stablecoin market, they could challenge the market share of crypto companies and financial institutions.
Community banks are already engaged in legal action against the OCC over the regulator’s approval for charter applications from crypto companies. Earlier this month, the Independent Community Bankers of America filed a lawsuit <a href="https://cointelegraph.com/news/rain-seeks-us-trust-bank-charter-days-after-occ-sued-over-crypto-charters" rel="noopener noreferrer nofollow">alleging that crypto companies</a> had an advantage over community bankers by not being subject to the same regulatory requirements.
Related: <a href="https://cointelegraph.com/news/bo-hines-donald-trump-crypto-advisor-nxum-tether-conflict" rel="noopener noreferrer nofollow">Ex-Trump crypto adviser profited after helping pass stablecoin bill: WSJ</a>

US OCC calls on community banks to become payment stablecoin issuers

Cointelegraph

Other articles published on Oct 26, 2026

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