OCC Finalizes Stablecoin Rule Under the GENIUS Act
The U.S. regulator OCC issued a final rule for part of the payment stablecoin market. The rule and the GENIUS Act are set to take effect on January 18, 2027.
OCC stablecoin rule: On October 21, 2026, the U.S. Office of the Comptroller of the Currency issued a final rule implementing parts of the GENIUS Act within its jurisdiction. The framework applies to permitted payment stablecoin issuers, foreign issuers supervised by the OCC, and certain custodial activities of entities supervised by the OCC.
The rule and the GENIUS Act itself are set to take effect on January 18, 2027. However, the regulator has not yet begun accepting applications for authorization or registration. The process will open only after the relevant information collection is finally approved by the U.S. Office of Management and Budget (OMB), followed by an OCC announcement.
What the OCC stablecoin rule covers
The final rule establishes prudential and operational requirements for regulated entities within the OCC’s jurisdiction. It includes rules on reserve assets, redeeming stablecoins for holders, risk management, audits, reporting, and supervision.
It also addresses custody and processes related to applications for authorization or registration. The rule therefore provides a more specific framework for the federally regulated segment of the U.S. payment stablecoin market ahead of the law taking effect in January.
The rule does not apply to every digital asset described as a stablecoin. Its scope is defined by permitted payment stablecoins and entities or activities subject to OCC supervision.
Applications cannot yet be submitted
The OCC said it is not accepting applications yet. Before the process can open, the OMB must approve the related forms and information collections. The regulator will then issue a separate public notice.
For existing issuers that submit a substantially complete application, the rule provides the possibility of requesting an exemption from the prior-approval requirement. The OCC states that it generally expects to grant such an exemption. Specific dates for opening the application process, as well as a list of issuers seeking authorization or an exemption, have not yet been confirmed.
AML and sanctions may be addressed separately
Finalizing the rule does not mean that the entire implementation of the GENIUS Act is complete. According to available information, provisions related to the Bank Secrecy Act, anti-money laundering (AML) rules, or sanctions rules or obligations related to OFAC sanctions are not part of this rule.
These areas are expected to be addressed through separate coordinated regulation. Entities seeking to operate under the OCC framework therefore remain advised to monitor further developments involving AML, the Bank Secrecy Act, and sanctions rules or obligations related to OFAC sanctions.
What comes next
- OMB approval of the forms and information collections.
- An OCC notice announcing the start of accepting applications and exemption requests.
- Initial issuer applications for federal authorization and subsequent OCC decisions.
- Separate coordinated regulation concerning AML, the Bank Secrecy Act, and sanctions rules or obligations related to OFAC sanctions.
Sources
- Office of the Comptroller of the Currency — Bulletin 2026-50 – Confirms the issuance of the final rule, its scope, key requirements, and effective date of January 18, 2027.
- Office of the Comptroller of the Currency — Bulletin 2026-51 – Confirms the process for applications and exemptions, the requirement for OMB approval before applications can be accepted, and the regime for existing issuers.
- Office of the Comptroller of the Currency — News Release 2026-92 – Confirms the OCC’s public announcement on finalizing the rule and that AML and sanctions issues will be addressed separately.
Verified and updated: October 21, 2026 15:23
