The Office of the Comptroller of the Currency (OCC) announced a final rule implementing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, establishing requirements for permitted payment stablecoin issuers and foreign payment stablecoin issuers under its jurisdiction. The framework sets standards for reserve backing, redemption and risk management and covers certain custody activities conducted by OCC-supervised entities. Adoption comes ahead of the November target Comptroller of the Currency Jonathan V. Gould outlined in August. The rule addresses all regulations the OCC must issue under the act except those concerning the Bank Secrecy Act, anti-money laundering and sanctions, which will be covered in a separate rulemaking coordinated with the Treasury Department. The final rule and the act take effect on January 18, 2027. The OCC will separately announce when it will begin accepting and processing applications and waiver requests from prospective permitted payment stablecoin issuers.
US Office of the Comptroller of the Currency finalizes payment stablecoin requirements under the GENIUS Act
The Office of the Comptroller of the Currency finalized GENIUS Act requirements for payment stablecoin issuers under its jurisdiction and certain custody activities, including standards for reserves, redemption and risk management. The rule and the act take effect on January 18, 2027, while Bank Secrecy Act, anti-money laundering and sanctions requirements remain for separate rulemaking. The opening of applications and waiver requests will be announced separately.