U.S. stablecoins get their “exam syllabus”: OCC issues final rules for the GENIUS Act, but the exam hasn’t started yet
On October 21, the U.S. Office of the Comptroller of the Currency (OCC) announced the final rules implementing the GENIUS Act on stablecoins. The rules cover compliant payment stablecoin issuers under its jurisdiction, foreign issuers, and certain custody activities by institutions it regulates. They focus on standards for reserve backing, redemption, and risk management.
A few details that clickbait headlines may overlook:
1. Anti-money laundering and sanctions-related rules aren’t included this time around; the Treasury Department will issue a separate set.
2. The announcement says the OCC will notify the public separately about when it will begin accepting issuer applications.
3. The final rules and the Act itself won’t take effect until January 18, 2027.
My take: the “exam syllabus” has been set; that doesn’t mean anyone has already received a license. What’s really worth watching is when the application window opens, who submits their paperwork first, and which issuers will face higher costs once the reserve and redemption requirements are put into practice.
So if you see anyone hyping this news as “a full-blown stablecoin rally,” don’t get carried away just yet: the announcement doesn’t mention any tokens, and no issuer has been approved.
#稳定币 #GENIUS法案 #Regulation
On October 21, the U.S. Office of the Comptroller of the Currency (OCC) announced the final rules implementing the GENIUS Act on stablecoins. The rules cover compliant payment stablecoin issuers under its jurisdiction, foreign issuers, and certain custody activities by institutions it regulates. They focus on standards for reserve backing, redemption, and risk management.
A few details that clickbait headlines may overlook:
1. Anti-money laundering and sanctions-related rules aren’t included this time around; the Treasury Department will issue a separate set.
2. The announcement says the OCC will notify the public separately about when it will begin accepting issuer applications.
3. The final rules and the Act itself won’t take effect until January 18, 2027.
My take: the “exam syllabus” has been set; that doesn’t mean anyone has already received a license. What’s really worth watching is when the application window opens, who submits their paperwork first, and which issuers will face higher costs once the reserve and redemption requirements are put into practice.
So if you see anyone hyping this news as “a full-blown stablecoin rally,” don’t get carried away just yet: the announcement doesn’t mention any tokens, and no issuer has been approved.
#稳定币 #GENIUS法案 #Regulation