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The Office of the Comptroller of the Currency (OCC) proposed rules under the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act that would create a comprehensive federal framework for payment stablecoin issuers, covering reserves, redemption, capital, custody, governance and supervision. In this webcast, panelists examine the scope of the proposal, key compliance and operational challenges, and strategic considerations for banks, nonbanks and other digital asset market participants preparing for enhanced OCC oversight.
Topics to be discussed include:
- The scope and structure of the OCC’s proposed GENIUS Act framework for payment stablecoin issuers
- Reserve composition, liquidity and redemption requirements and their impact on stablecoin design
- Capital, operational backstop and risk management expectations for banks and nonbank issuers
- Custody, disclosure and reporting obligations affecting issuers and service providers
- Strategic considerations for US and foreign market participants responding to the proposal
Speakers:
- Mark Nichols, Digital Assets Consulting Co-leader, Ernst & Young LLP
- Alejandro (Alex) Latorre, Digital Assets Regulatory and Risk Leader, Ernst & Young LLP
- Becca Freiheit, Principal, Financial Services Risk Management, Ernst & Young LLP
- Rush Mehta, Principal, Financial Services Risk Management, Ernst & Young LLP
- Richard Tuosto, Managing Director, Financial Services Risk Management, Ernst & Young LLP