OCC Targets November for Stablecoin Regulations
The Office of the Comptroller of the Currency (OCC) is on track to finalize its primary regulations for stablecoins under the GENIUS Act by November, according to Comptroller Jonathan Gould. The agency will adjust its final rules based on industry comments submitted during the 60-day comment period that ended May 1.
The OCC is one of three agencies advancing separate but coordinated rulemakings, with each overseeing different types of financial institutions. The Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) are also developing their own stablecoin rules tied to the GENIUS Act.
The GENIUS Act framework takes effect January 18, 2027, or 120 days after final rules are issued, whichever comes first. Gould also said digital asset approval activity has increased eightfold under the current administration, with 13 pending digital asset applications and conditional trust bank approvals granted to firms including Circle, Ripple, and World Liberty Financial.