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Anchorage Digital Bank submitted a formal comment letter to the Office of the Comptroller of the Currency on the rollout of the GENIUS Act, proposed US legislation that would regulate stablecoins.
In a statement released on May 1, Anchorage Digital said it had sent comments on the OCC’s proposed rulemaking for stablecoin issuance by institutions under the agency’s supervision. The GENIUS Act is intended to establish legal standards and a regulatory framework for lawful stablecoin issuance in the US.
Anchorage Digital currently issues three stablecoins with partners: USAT with Tether, USDGO with OSL Group and USDtb with Ethena.
The company also said it plans to launch a fourth stablecoin, UDSPT, soon through a partnership with Western Union, a global remittance and payments network.
Anchorage Digital said it expects to qualify smoothly for status as a qualified payment stablecoin issuer, or PPSI, once the GENIUS Act takes effect.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
