#DeepCreationCamp 1. The "Yield" Hammer 🔨

The biggest shocker is the strict prohibition on paying interest or yield.
**No Direct Yield: Issuers cannot pay holders interest or rewards for holding coins.
The "Workaround" Trap: The OCC introduced a "rebuttable presumption" that an issuer is violating the law if its affiliates or third-party partners (like exchanges) offer rewards on that stablecoin. This puts major pressure on partnerships like the one between PayPal (PYUSD) and Paxos.
2. Mandatory "T+2" Redemptions ⏱️
Liquidity is no longer "best effort."
Issuers must honor redemption requests within 2 business days (at par).
Safety Valve: If redemptions exceed 10% of the supply in 24 hours, the issuer can extend the window to 7 days to prevent a "bank run" scenario.
3. Capital vs. Reserves (The Hidden Cost) 💰
The OCC clarified that 1:1 reserves are not enough.
Reserves: Must be 100% backed by high-quality liquid assets (cash, Treasuries).
Capital Buffer: Issuers must hold additional equity capital (distinct from the reserves) to absorb operational losses, fraud, or tech failures.
The Floor: New (de novo) issuers must have at least a $5 million capital floor at inception.
4. Who’s in Charge? 🏛️
The rules apply to:
National banks and their subsidiaries.
"Federal Qualified Payment Stablecoin Issuers" (a new type of federal license).
Foreign Issuers: For the first time, foreign issuers wanting to touch the US market will likely fall under federal oversight, potentially ending the era of offshore "Wild West" stablecoins operating in the US.
Why this matters for the "Frontier"
While this brings "bank-like" stability, it also brings bank-like costs. Smaller, agile projects may be priced out by the compliance and capital requirements, likely leading to a consolidation of the market toward giants like Circle, Paxos, and big banks.#EthereumFoundationUnveilsItsStrawmap