Update
OCC Encourages Community Banks to Enter Stablecoin Market
The U.S. Office of the Comptroller of the Currency (OCC) has encouraged community banks to develop stablecoin services, including applying for permission to issue their own dollar-pegged tokens. The OCC aims to complement its Community Bank Comeback initiatives by tailoring supervision for community banks to help them grow and serve their communities, while also addressing concerns about stablecoin yields drawing deposits away from traditional banks.