OCC Stablecoin Proposal Receives Backing from BPI and TCHA with Conditions

The Bank Policy Institute (BPI) and The Clearing House Association have filed comment letters in support of the OCC's proposed payment stablecoin requirements. In a joint letter, they expressed general support for the AML/CFT approach but offered policy recommendations to promote clarity in the framework.

They also suggested that regulators clarify consumer protection requirements for stablecoin issuers, recognize fraud risks more explicitly, and strengthen liquidity safeguards. The BPI and The Clearing House Association supported the OCC's proposal that stablecoin issuers under its jurisdiction must abide by obligations established by FinCEN and OFAC.

In a standalone letter, the BPI reiterated suggestions it made to the OCC in response to its March 2026 proposal to establish requirements for stablecoin issuers. The BPI urged regulators to clarify consumer protection requirements for stablecoin issuers, recognize fraud risks more explicitly, and strengthen liquidity safeguards.

They also expressed concern that the comment period on this proposal was too short and highlighted the importance of coordination across agencies tasked with writing rules under the GENIUS Act.