The OCC Just Dropped the Hammer on Stablecoin Yield: Why “Rewards” Are the New Front Line

Updated (Huge Impact to Tether and other non-US Stablecoin Issuers)

As a payments expert who has watched the “shadow banking” sector flirt with regulatory boundaries for years, today’s draft guidance from the Office of the Comptroller of the Currency (OCC) on the GENIUS Act implementation is my “I told you so” (60 day comment period).