The Office of the Comptroller of the Currency (OCC) today announced a final rule to implement the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.
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“The GENIUS Act marks a watershed moment in American finance, further cementing the United States as the crypto capital of the world. 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,” said U.S. Secretary of the Treasury Scott Bessent. “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.”
“Today’s final rule advances President Trump and Secretary Bessent’s vision for American leadership in digital assets,” said Comptroller of the Currency Jonathan V. Gould. “We are providing a clear, practical framework for payment stablecoin innovation, with strong standards for reserve backing, redemption, and risk management. The OCC is drawing on its longstanding supervisory expertise to support responsible growth and innovation for this new industry.”
The final rule establishes requirements for permitted payment stablecoin issuers and foreign payment stablecoin issuers under the OCC’s jurisdiction, as well as certain custody activities conducted by OCC-supervised entities. It addresses all of the regulations the OCC is required to promulgate under the GENIUS Act other than those related to the Bank Secrecy Act, anti-money laundering, and Office of Foreign Asset Control sanctions, which will be addressed in a separate rulemaking in coordination with the Department of Treasury. In the course of rulemaking, the OCC received hundreds of comments in response to the proposal from a wide variety of stakeholders, including crypto-focused companies, community bankers, trade groups, academics, and more.
The OCC will continue to coordinate with other agencies responsible for implementing aspects of the GENIUS Act. The agency will announce in a separate news release when it will begin accepting and processing applications and waiver requests from prospective permitted payment stablecoin issuers. Given the nascency of the industry, the OCC will closely monitor its evolution and structure and adjust the supervisory and regulatory framework for payment stablecoin issuers to the extent necessary.
The final rule and the GENIUS Act take effect on January 18, 2027.