The U.S. Office of the Comptroller of the Currency (OCC) has unveiled a comprehensive 376-page proposal to regulate payment stablecoins under the GENIUS Act. Key provisions include a mandate for stablecoin redemptions to be completed within two business days, with an automatic extension to seven days if daily redemptions surpass 10% of the circulating supply. This contrasts with USDC's current rapid redemption model. The proposed rules also define "payment stablecoin," set a 1:1 high-liquidity reserve requirement, and impose strict limits on interest payments and rewards, potentially affecting platforms like Coinbase. Additionally, the proposal outlines disclosure, auditing requirements, and federal regulatory oversight for state-accredited issuers exceeding $10 billion in issuance.