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Crypto

U.S. banks face May 1 deadline to comment on OCC stablecoin rules

U.S. banks have until May 1 to submit views on the Office of the Comptroller of the Currency’s proposed rules tied to the GENIUS bill. The draft lays out reserve standards, custody rules, capital requirements and supervisory authority, and would require federal approval for issuers with more than $10 billion in stablecoins outstanding. Smaller issuers could operate under state frameworks certified by the Treasury, the Federal Reserve and the FDIC.

Crypto

U.S. banking industry asks to delay comment period for follow-up rules under \'GENIUS Act\'

The U.S. banking industry has asked regulators to delay the public comment period for three follow-up rules under the stablecoin regulation known as the \'GENIUS Act\'. CoinDesk reported that U.S. banking groups sent a letter this week to the Treasury Department and the Federal Deposit Insurance Corp, seeking at least 60 additional days for comment after rules tied to the Office of the Comptroller of the Currency are completed.

AI & Enterprise

Japan finance minister to meet three megabanks to discuss risks from Anthropic\'s Mythos

Japan will hold a meeting involving the country\'s three megabanks and other senior financial officials to review potential risks from Anthropic\'s AI model Mythos. CoinPost reported that Finance Minister Satsuki Katayama will meet executives from Mitsubishi UFJ, Sumitomo Mitsui and Mizuho to share awareness of related risks. Attendance by BOJ Governor Kazuo Ueda and other industry leaders is being coordinated, and the Financial Services Agency proposed the meeting.