OCC Issues Final GENIUS Act Rule Establishing Federal Regulatory Framework for Payment Stablecoins

Techub News reports that the U.S. Office of the Comptroller of the Currency (OCC) announced the release of the final rule to implement the 1Guidance and Establishing National Innovation for U.S. Stablecoins Act1 (GENIUS Act). This rule sets forth requirements for OCC-regulated approved payment stablecoin issuers, foreign payment stablecoin issuers, and certain custodial activities conducted by OCC-regulated entities, covering standards related to reserve backing, redemption, and risk management.
U.S. Treasury Secretary Scott Bessent stated that the GENIUS Act marks a watershed moment for U.S. finance, establishing a federal framework for payment stablecoins in the digital age. Acting OCC Comptroller Jonathan V. Gould said that the final rule advances President Trump and the Treasury Secretary's vision of U.S. leadership in the digital asset space.
The final rule and the GENIUS Act will take effect on January 18, 2027. The OCC will separately announce when it will begin accepting and processing applications from potential issuers. (OCC)