Saad Ullah
The Office of the Comptroller of the Currency (OCC) has published a notice of proposed rulemaking to implement the GENIUS Act — the Guiding and Establishing National Innovation for U.S. Stablecoins Act. The proposal sets out a regulatory framework for the issuance of payment stablecoins by entities under OCC jurisdiction, formally opening the door for federally regulated banks to issue digital dollars. This is one of the clearest signals yet that Washington is ready to bring stablecoins into the mainstream financial system.
60-Day Comment Window Opens for Bank Stablecoin Rules
The document introduces amendments across several sections of 12 CFR and is filed under a formal OCC docket number, kicking off the standard federal rulemaking process. Public comments must be submitted within 60 days of publication in the Federal Register. Rather than targeting specific crypto assets, the framework zeroes in on bank-issued, dollar-backed tokens — giving OCC-supervised institutions a clear supervisory path for stablecoin operations.
The proposal focuses specifically on payment stablecoins and establishes supervisory clarity for institutions already regulated by the OCC.
The timing is no coincidence. In recent months, the debate around banking access to digital asset infrastructure has intensified. US banking groups push back on crypto charter fast-tracking highlighted the friction between traditional finance and accelerated crypto licensing, while broader market expectations have grown that major banks will eventually enter the tokenized dollar space.
Bank of America, XRP and the Race for Digital Dollar Dominance
Those expectations are already taking shape. Reports that Bank of America considers stablecoin launch reflect a growing appetite among top-tier institutions to stake a claim in regulated digital payments. The OCC proposal gives those ambitions a federal framework to work within — and a compliance roadmap to follow.
The ripple effects could extend well beyond banking. As explored in Treasury's stablecoin crackdown could be XRP's golden ticket, tighter federal oversight may actually accelerate adoption of compliant digital assets and payment networks. If finalized, the OCC framework would formalize stablecoin oversight at the federal level, shape who gets to issue digital dollars, and redefine how blockchain-based payments fit into the U.S. financial system. The outcome of the comment period will determine just how wide — or narrow — that door swings open.
Saad Ullah
