OCC Stablecoin Proposal Would Require Full Reserves and Par-Value Redemptions

The U.S. Office of the Comptroller of the Currency (OCC) is drafting rules under the GENIUS Act that would set reserve, redemption and interest requirements for stablecoin issuers. Circle CEO Jeremy Allaire said bipartisan support for the law could give the industry more policy certainty. Under the proposal, issuers would need reserve assets worth at least the value of their tokens in circulation. They would also have to redeem tokens at face value within two business days and refrain from paying interest to holders. Allaire said he pays little attention to Bitcoin (BTC)’s short-term price movements. He sees potential demand for digital dollars as AI agents take part in more economic activity, and listed payments, trading, lending and investment as possible uses.

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