The OCC has proposed rules to implement the GENIUS Act, and aksing the public feedback for the proposal within 60 days of publication, as the move is aimed to support innovation while ensuring safety in the growing stablecoin market.
Firstly, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act was enacted on July 18, 2025, which establishes a regulatory framework for payment stablecoin issuer activities.
According to the Office of the Comptroller of the Currency’s official statement on February 25, the proposal would create a clear framework for stablecoin issuers operating under its supervision, including rules related to issuance and certain custody activities.
Key Details of the Proposal
The proposal spans approximately 376 pages and notes, “The OCC will have regulatory or enforcement authority over certain permitted payment stablecoin issuers, including subsidiaries of national banks or Federal savings associations, Federal qualified payment stablecoin issuers, and State qualified payment stablecoin issuers subject to the OCC’s regulatory or enforcement authority.”
However, rules related to anti-money laundering (AML), the Bank Secrecy Act, and sanctions (OFAC) are not included in this proposal. Those will be introduced separately in coordination with the U.S. Department of the Treasury.
The proposal also noted that OCC anticipates that these implementing regulations will be updated in the years following the effective date of the GENIUS Act. Where the GENIUS Act’s effective date is the earlier of 18 months after the enactment date, which would be January 2027, after the primary Federal payment stablecoin regulators issue final regulations implementing the Act.
Further, the Comptroller of the Currency, Jonathan V. Gould, said, “We welcome feedback on the proposal to inform a final rule that is effective, practical, and reflects a broad industry perspective. The OCC will continue its work to implement the GENIUS Act and provide OCC-regulated entities with more opportunities to meet the needs of their customers and communities,” noted in the OCC’s statement.
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