The American Bankers Association criticized the OCC's final stablecoin rule, saying dropping the yield restrictions could trigger deposit outflows

Odaily reports that crypto journalist Eleanor Terrett reported that the American Bankers Association (ABA) has expressed dissatisfaction with the final rule implementing the GENIUS Act issued by the Office of the Comptroller of the Currency (OCC), arguing that the OCC's decision to abandon the previously proposed stablecoin yield restrictions will preserve the existing business models of crypto platforms.

The ABA CEO stated that attempting to address the relevant issues only after bank deposit outflows and economic damage have already occurred is not the right approach.