OCC Rushes to Finalize Stablecoin Rules by November

The US Office of the Comptroller of the Currency (OCC) is racing to finalize rules for stablecoins by November. Stablecoins, a type of cryptocurrency pegged to the U.S. dollar, have become widely used for everyday transactions and international transfers.

The GENIUS Act, signed by President Trump, is the first major federal law governing stablecoins. The OCC is now working to implement its provisions through formal rulemaking before the end of the year.

Stablecoins are increasingly part of the financial plumbing that ordinary consumers and businesses interact with. Clear federal rules could determine which companies are allowed to issue stablecoins, what reserves they must hold, and how consumers are protected if something goes wrong.