US quietly eases stablecoin reserve rules as banks warn billions could shift away from lending
AI summary
The OCC released a 721-page final rule implementing the GENIUS Act on Oct. 21, easing stablecoin reserve requirements. Treasury Secretary Scott Bessent likened the law to the National Currency Act of 1863 and framed it as central to US crypto leadership. The American Bankers Association warned that billions in deposits could shift away from bank lending, a regulatory flashpoint traders should watch for its effect on stablecoin issuers and bank-linked crypto exposure.
