Wise Plans to Resubmit US Charter Application Under GENIUS Act After Friday Denial

According to a Friday research note by investment banking group William Blair, payments company Wise is expected to resubmit its US charter application under the GENIUS Act framework following its denial by the Office of the Comptroller of the Currency (OCC) on Tuesday, July 22. The OCC rejected Wise's application to establish a national trust bank, citing insufficient Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) compliance programs and other illicit finance activity risks. The GENIUS Act, signed into law in July 2025, provides a regulatory framework for payment stablecoin providers in the United States and is set to take effect in January 2027.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments