OCC’s Final Rule to Start Fresh in Weighing Stablecoin Rewards Against GENIUS Act Ban
Key Highlights: The Financial Crimes Enforcement Network (FinCEN), an independent bureau of the U.S. Treasury Department, has declined to provide examples of what reward structures will violate the GENIUS Act’s stablecoin provisions, leaving the industry without safe harbors for existing programs. FinCEN indicated the word “solely” in the GENIUS Act’s prohibition is legally significant, suggesting ...