U.S. OCC stablecoin proposal draws industry comment from BPI, ABA

The Bank Policy Institute (BPI) and The Clearing House Association submitted joint and separate comment letters to the Office of the Comptroller of the Currency (OCC) on its proposed payment stablecoin requirements. The letters expressed general support for the OCC’s anti‑money‑laundering and counter‑terrorism financing (AML/CFT) framework while urging clearer consumer‑protection rules, stronger liquidity safeguards and explicit fraud‑risk guidance.

The American Bankers Association (ABA) also backed the OCC’s approach to treat stablecoin issuers like traditional financial institutions under the Bank Secrecy Act and sanctions rules. ABA called for equal treatment of all regulated entities and for additional safeguards to preserve the safety and integrity of the U.S. payments system. Both groups highlighted coordination with FinCEN, OFAC and ongoing initiatives such as the GENIUS Act as essential for effective oversight of payment stablecoins.