OCC Finalizes GENIUS Act Stablecoin Rules, Leaves Rewards Fight Open

The Office of the Comptroller of the Currency on Wednesday finalized its rules implementing the GENIUS Act, becoming the first federal regulator to complete the stablecoin framework Congress passed in July 2025. The rule takes effect January 18, 2027.

The rules set federal standards for payment stablecoin issuers covering reserve backing, redemptions, capital, custody, audits and risk management. It establishes a licensing and supervisory regime for national banks, their subsidiaries, nonbank companies and foreign issuers that fall under OCC jurisdiction.

“We are providing a clear, practical framework for payment stablecoin innovation, with strong standards for reserve backing, redemption, and risk management,” Comptroller Jonathan Gould said in a statement. He described the rule as advancing “President Trump and Secretary Bessent’s vision for American leadership in digital assets.”

The GENIUS Act, passed and signed into law last year, was the first federal statute to govern stablecoins, the dollar-pegged tokens that serve as the main trading pair for bitcoin on most exchanges. 

The law required one-to-one reserve backing and annual audits and directed bank regulators to write the implementing rules. The Federal Reserve and FDIC have issued proposals. Treasury is drafting its own.