The Office of the Comptroller of the Currency finalized its GENIUS Act rule for payment stablecoin issuers Wednesday, Oct. 21, establishing federal oversight requirements for firms covered by the law.
Congress enacted the GENIUS Act on July 18, 2025, creating a federal framework for payment stablecoins. The OCC oversees national banks and federal savings associations and was expected to write regulations implementing the law.
The rule applies to permitted payment stablecoin issuers and foreign issuers within the OCC’s jurisdiction. It also covers certain custody activities at firms the agency supervises. Stablecoins are digital currencies designed to track traditional fiat currencies.
The final rule leaves out a proposed restriction concerning stablecoin rewards offered through crypto platforms, a subject in EconoTimes’ earlier coverage.
The OCC said it will issue a separate notice on when issuers may begin applying. Another rulemaking will address Bank Secrecy Act, anti-money-laundering and sanctions provisions. The rule is scheduled to take effect Jan. 18, 2027.
