The Office of the Comptroller of the Currency is encouraging community banks and their subsidiaries to seek federal authorization to issue dollar-backed stablecoins. The initiative falls under the GENIUS Act, which was enacted on July 18, 2025, and the « Community Bank Comeback » program aimed at easing regulatory constraints on small banks. Applications cannot yet be submitted because the OCC is awaiting approval of the federal forms by the Office of Management and Budget, while the new stablecoin rules will take effect on January 18, 2027. The OCC is nevertheless facing opposition from the ICBA, which accuses it of favoring crypto companies and estimates that the adoption of yield-bearing stablecoins could reduce community bank lending by at least $850 billion in the coming years.
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