The U.S. Office of the Comptroller of the Currency (OCC) has proposed a new framework under the GENIUS Act to regulate stablecoin issuers and custody services. The draft rule aims to establish federal oversight for payment stablecoin issuers, focusing on operational safety and regulatory compliance. It outlines requirements for issuers and custody activities, marking the first step in a broader multi-agency regulatory effort. The proposal notably excludes anti-money laundering (AML) and sanctions compliance, which will be coordinated separately with U.S. Treasury agencies. Comptroller Jonathan V. Gould emphasized the OCC's commitment to public consultation before finalizing the rule. The framework is part of a coordinated federal approach, with additional rules anticipated as the GENIUS Act implementation progresses.