Providing a “clear, practical foundation for private-sector innovation, competition, and American leadership in digital assets” is the aim of a cryptocurrency final rule issued Wednesday by the national bank regulator, the agency said.
According to the Office of the Comptroller of the Currency (OCC), the final rule implementing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, enacted in 2025, establishes requirements for permitted payment stablecoin issuers and foreign payment stablecoin issuers under the agency’s jurisdiction. It also sets rule for certain custody activities conducted by OCC-supervised entities, the agency said.
The rule, the OCC added, addresses all the regulations the OCC is required to promulgate under the GENIUS Act other than those related to the Bank Secrecy Act, anti-money laundering (BSA/AML), and Office of Foreign Asset Control (OFAC) sanctions. The agency said those areas will be addressed in a separate rulemaking in coordination with the Treasury. Department.
“In the course of rulemaking, the OCC received hundreds of comments in response to the proposal from a wide variety of stakeholders, including crypto-focused companies, community bankers, trade groups, academics, and more,” the OCC said.
The OCC said the final rule provides a clear, practical framework for payment stablecoin innovation, with strong standards for reserve backing, redemption, and risk management.
Still to come from the agency: when it will begin accepting and processing applications and waiver requests from prospective permitted payment stablecoin issuers. That will be covered under a separate, future press release, the OCC indicated.
“Given the nascency of the industry, the OCC will closely monitor its evolution and structure and adjust the supervisory and regulatory framework for payment stablecoin issuers to the extent necessary,” the agency said.
The final rule and the GENIUS Act take effect on Jan. 18, the regulator said.
OCC Advances U.S. Digital Asset Leadership with Final Rule to Implement GENIUS Act
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