OCC Targets November for Final GENIUS Act Stablecoin Rules

The upcoming rules will govern the lifecycle of payment stablecoins, encompassing reserve management, redemption protocols, supervision, and issuer application procedures. While the agency released its initial proposal in February, officials are now incorporating comments from crypto firms and industry participants. Gould noted that the agency's digital asset approval activity has risen eightfold under the current administration, criticizing previous efforts to eliminate banking risk as shortsighted.

Although the GENIUS Act mandated that federal regulators issue implementing rules within one year of the law’s July 2025 signing, the statutory deadline passed in July 2026 without the OCC, Federal Reserve, or FDIC completing the full suite of measures. Once finalized, the framework will restrict U.S. stablecoin issuance to permitted entities, with the OCC overseeing federally qualified nonbank issuers and specific bank subsidiaries. The agency is also coordinating with the Treasury Department on separate rules concerning anti-money laundering and sanctions compliance.