meta_id 3619821

On October 21, 2026, the Office of the Comptroller of the Currency (OCC) issued a final rule implementing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act for the issuance of payment stablecoins and certain related activities by entities under the OCC's jurisdiction. The rule addresses all OCC regulations required under the GENIUS Act, except those relating to the Bank Secrecy Act, anti-money laundering, and Office of Foreign Assets Control sanctions, which will be handled in separate rulemaking with the Department of the Treasury. The GENIUS Act, enacted on July 18, 2025, generally prohibits anyone other than a permitted payment stablecoin issuer from issuing payment stablecoins in the United States, and bars digital asset service providers from offering or selling them to US persons unless the issuer meets specified requirements. The majority of the OCC's rules are codified in a new 12 CFR 15, covering activities, reserve assets, redemption, risk management, audits and supervision, custody, applications and registrations, examination of foreign issuers, revocation of approval, and capital and operational backstops. The final rule also amends capital adequacy standards in 12 CFR 3, prompt corrective action rules in 12 CFR 6, fee assessments in 12 CFR 8, and rules of practice in 12 CFR 19. The rule applies to national banks and their subsidiaries, federal savings associations and their subsidiaries, federal branches and their subsidiaries, foreign payment stablecoin issuers, nonbank entities seeking or holding federal qualified payment stablecoin issuer status, and state qualified payment stablecoin issuers under the OCC's authority. The OCC published its notice of proposed rulemaking on February 25, 2026, and it was published in the Federal Register on March 2, 2026. The OCC received comments from various groups and individuals, which the final rule incorporates or addresses. The final rule takes effect on January 18, 2027, which is also the GENIUS Act's effective date. Entities within scope should review the new 12 CFR 15 requirements and the amended provisions ahead of that date. Questions may be directed to Daniel Borman, Counsel, or Mark O'Horo, Special Counsel, in the Chief Counsel's Office at (202) 649-5490. References: - OCC Bulletin 2026-50, GENIUS Act Regulations: Final Rule, October 21, 2026 - Implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act for the Issuance of Stablecoins by Entities Subject to the Jurisdiction of the Office of the Comptroller of the Currency (PDF) - OCC Bulletin 2026-3 and 91 Fed. Reg. 10202 (proposed rule)