The OCC’s final rule laid out regulatory requirements for stablecoin issuance and certain custody activities, while leaving some compliance matters for later rules.
The US Office of the Comptroller of the Currency (OCC) has finalized its rules for implementing the GENIUS Act. The rule covers requirements for permitted payment stablecoin issuers, foreign issuers under the OCC’s jurisdiction, as well as certain custody activities handled by entities supervised by the agency.
Reserve backing, redemption, and risk management are among the areas covered by the new framework.
OCC Locks In Stablecoin Rules
US Treasury Secretary Scott Bessent called the GENIUS Act a “watershed moment in American finance.” He added,
“Just as President Abraham Lincoln’s National Currency Act of 1863 established a national framework for bank-issued currency, the GENIUS Act establishes a federal framework for payment stablecoins in the digital age. The OCC’s final rule carries that landmark legislation forward, providing a clear, practical foundation for private-sector innovation, competition, and American leadership in digital assets.”
The OCC received hundreds of comments on its proposal from crypto companies, community banks, trade groups, academics, and other stakeholders. The final rule addresses the regulations required under the GENIUS Act, apart from provisions covering the Bank Secrecy Act, anti-money laundering, and sanctions enforced by the Office of Foreign Assets Control.
Those areas will be handled through a separate rulemaking process in coordination with the Treasury Department. The OCC will also continue working with other agencies involved in implementing the law.
The agency has not yet announced when it will start accepting applications and waiver requests from prospective permitted payment stablecoin issuers. It said that announcement will come separately. The OCC also plans to monitor the industry as it develops and make adjustments to its supervisory approach if needed. Both the GENIUS Act and the final rule are scheduled to take effect on January 18, 2027.
Fed Proposals
The Guiding and Establishing National Innovation for US Stablecoins, a.k.a. the GENIUS Act, was signed into law back in July 2025. The federal regulators missed the July 18, 2026, deadline to finalize the stablecoin rules, as it required multiple agencies to build an entirely new supervisory framework.
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In September, the Federal Reserve proposed two rules for stablecoin issuers and banks under its supervision.
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