A Senate procedural defeat left the broader U.S. digital-asset market bill pending, while a separate 2025 law has set Jan. 18, 2027, for federal oversight of payment-stablecoin issuers.
Congress enacted the GENIUS Act on July 18, 2025, establishing a federal framework for payment stablecoins. The Office of the Comptroller of the Currency (OCC) finalized its rule for covered issuers on Oct. 21, setting federal oversight requirements. The OCC's final rule for issuers covered by the act details that framework.
The broader Digital Asset Market Clarity Act of 2025 remains unresolved in Congress.
A Sept. 15 cloture vote on a motion to take up H.R. 3633 failed 49-50.
Under the GENIUS Act schedule, issuer requirements begin Jan. 18, 2027.
