The Office of the Comptroller of the Currency (OCC) has finalized rules governing stablecoin issuers under the GENIUS Act, establishing federal standards for reserve backing, redemptions, and risk management.
The move advances the United States’ efforts to regulate digital payments while creating clearer requirements for companies entering the stablecoin market. Treasury Secretary Scott Bessent compared the legislation to Abraham Lincoln’s 1863 National Currency Act, highlighting its role in establishing a national framework for digital money.
New Standards for Stablecoin Issuers
OCC Comptroller Jonathan V. Gould said the framework supports innovation while strengthening safeguards for payment stablecoins. Additionally, the rules cover certain custody activities at banks supervised by the agency.
However, the OCC excluded anti-money laundering and sanctions requirements from this final rule. Treasury officials will address those issues through separate rulemaking. Consequently, prospective issuers must await further guidance on applications.
The GENIUS Act and its implementing rules take effect January 18, 2027. Meanwhile, the OCC plans to monitor industry developments and adjust its approach when necessary.
Coinbase Seeks Consistent Federal Rules
Coinbase has urged Treasury officials to align definitions, standards, and implementation dates across federal regulators. Moreover, the company wants clarity on foreign stablecoins used for cross-border payments without U.S. customers holding them.
Besides, broader crypto regulation remains uncertain as the CLARITY Act stalls in the Senate. Stablecoin yield disputes continue delaying progress, leaving the GENIUS Act as the leading federal framework for payment stablecoins.
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