OCC finalizes federal framework for GENIUS Act stablecoin oversight

The Office of the Comptroller of the Currency (OCC) has finalized regulations implementing the GENIUS Act, setting out rules for payment stablecoin issuers and related activities overseen by the federal banking regulator. Published on October 21, 2026, the final rule will take effect on January 18, 2027. It covers the regulations the OCC is required to issue under the law, with Bank Secrecy Act compliance, anti-money laundering requirements and sanctions administered by the Office of Foreign Assets Control excluded from the rule and reserved for separate rulemaking in coordination with the Treasury Department. Most of the new requirements are contained in a new section of federal regulations, 12 CFR 15, which establishes standards for stablecoin activities, reserve assets, redemption procedures, risk management, audits, reporting and regulatory supervision. The framework also covers custody, issuer applications and registrations, oversight of foreign issuers, transitions by state-qualified issuers to federal regulation, and circumstances in which an issuer’s approval may be revoked or rescinded. The OCC said the final rule incorporates or addresses feedback submitted after its Febr...