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Sidley says it published a guide to the OCC’s payment stablecoin framework
Sidley said it published an update on the Office of the Comptroller of the Currency’s final payment stablecoin framework under the GENIUS Act. The firm said the guide compares the final rule with the proposal and examines practical considerations for issuers, banks, custodians and other market participants.
Key points
- Sidley said the guide distinguished direct customers from beneficial holders.Sidley
- The firm said it addressed permitted activities and the prohibition on interest or yield.Sidley
- Sidley said it examined reserve assets, redemption timing, capital and operational backstops.Sidley
- The firm said it discussed foreign issuers, custody and the application process.Sidley