Key Highlights
- CCI wants the OCC to make stablecoin reporting rules more targeted and practical.
- The group wants the OCC to focus on 1:1 reserve backing and use consistent reporting rules across regulators.
- CCI wants changes to Schedule B, so issuers are not forced to report market data they cannot independently verify.
The Crypto Council for Innovation (CCI) has asked the U.S. Office of the Comptroller of the Currency (OCC) to make its proposed stablecoin reporting rules more focused and practical.
It said the system should support the GENIUS Act without placing unnecessary pressure on payment stablecoin issuers.
In a letter published on August 12, the group says it supports strong reporting and supervision but wants regulators to focus on information that is useful for checking the health of stablecoin issuers and the wider market.
CCI said reporting should be “targeted” and “risk-based” while helping support responsible payment stablecoin use.
OCC stablecoin rules come under review
The comments come as the OCC works on rules to put the GENIUS Act into practice. The law, passed on July 18, 2025, makes it illegal to issue payment stablecoins without permission and sets requirements for U.S. and foreign issuers. The OCC is also working with other agencies on areas such as anti-money laundering and sanctions.
The OCC has previously proposed weekly and quarterly reporting forms for payment stablecoin issuers under its supervision. The forms are designed to give the regulator regular information about stablecoin activity, reserves and the financial condition of issuers.
CCI wants reporting to stay practical
CCI said payment stablecoins can give businesses and consumers faster, programmable and cheaper ways to make payments.
It argued that the rules around them should therefore support the main requirements of the GENIUS Act while giving regulators enough information to carry out proper supervision.
Why 1:1 stablecoin reserves matter
One of CCI’s main requests is for the OCC to pay close attention to the GENIUS Act’s 1:1 reserve requirement.
Under this approach, payment stablecoins should have matching reserve backing. CCI said keeping this requirement at the center of supervision could help stablecoins remain interchangeable across issuers, lower the risk of a rush to redeem them, and support timely redemptions.
The group also wants the OCC to work more closely with other federal regulators that oversee payment stablecoins. CCI said similar reporting rules would make it easier for issuers to follow the requirements and would allow regulators to compare the same type of information across the industry.
Privacy is another part of the comments. CCI urged the OCC to protect wallet holders and avoid requiring issuers to report information that they cannot reasonably produce themselves.
Schedule B raises data concerns
That concern is especially clear in Schedule B, which covers stablecoin issuance and redemptions as well as secondary-market prices and trading activity.
CCI said issuers may not have direct access to some of this market information. If they are forced to collect it from exchanges, data companies or market aggregators, the reporting process could become costly and difficult to manage.
Instead, CCI suggested that the OCC consider other measures that could give regulators similar information without making issuers depend on data they cannot create or check themselves. It also suggested that the OCC could work directly with third-party data providers to collect consistent information across the industry.
If the OCC keeps the current Schedule B requirements, CCI wants clear rules on how issuers should use information from outside data providers. It asked the regulator to explain what level of checking issuers would need to do before relying on that data.
Overall, CCI said the goal should be a reporting system that keeps issuers in line with the GENIUS Act without creating duplicate or impractical requirements. The group said this would allow the OCC to strengthen supervision while still supporting the growth of payment stablecoins.
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