The U.S. Office of the Comptroller of the Currency (OCC) has finalized rules for payment stablecoin issuers under its supervision, the agency announced on October 21. The rules implement key parts of the GENIUS Act and take effect on January 18, 2027.
What the rules cover
The final rule establishes requirements for payment stablecoins, which are designed to maintain a steady value, often against the U.S. dollar. It addresses the assets backing these tokens, how holders exchange them for money, and how issuers manage risks. It also covers certain services that hold digital assets for customers.
Reserve backing refers to the assets supporting a stablecoin’s value, while redemption determines how someone exchanges tokens with the issuer for money. The framework applies to permitted payment stablecoin issuers and foreign issuers within the OCC’s jurisdiction.
Applications to open later
Although the rules take effect in January 2027, companies seeking permission to issue stablecoins still face another step. The OCC said it will announce separately when it begins accepting and processing applications and requests for exceptions. Finalizing the rules does not mean that those companies receive approvals.
The OCC noted that it received many comments during the development of the framework, including from crypto companies, community bankers, trade groups, and academics.
Financial crime rules pending
Some important requirements remain for a separate proceeding. Rules addressing anti-money laundering, the Bank Secrecy Act, and sanctions will be developed separately with the Treasury Department. The OCC also said it would monitor the industry and adjust where necessary.
