The Office of the Comptroller of the Currency (OCC) has finalized a rule to implement the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, marking a significant step in U.S. digital asset regulation. U.S. Secretary of the Treasury Scott Bessent compared the GENIUS Act to Abraham Lincoln’s National Currency Act of 1863, calling it a landmark for establishing a federal framework for payment stablecoins in the digital age.
Comptroller of the Currency Jonathan V. Gould emphasized that the final rule provides a clear framework for payment stablecoin innovation, with strong standards for reserve backing, redemption, and risk management. The rule covers all regulations required by the GENIUS Act except those related to the Bank Secrecy Act, anti-money laundering, and Office of Foreign Asset Control sanctions, which will be addressed separately.
The OCC received hundreds of comments from various stakeholders during the rulemaking process, including crypto-focused companies, community bankers, and trade groups. The agency will continue to coordinate with other agencies responsible for implementing the GENIUS Act and will announce when it will begin accepting applications and waiver requests from prospective stablecoin issuers.
The final rule and the GENIUS Act will take effect on January 18, 2027.