The U.S. OCC finalized the first implementing rules for the GENIUS Act on Wednesday, becoming the first federal regulator to deliver. The rules and the Act will take effect simultaneously on January 18, 2027.
The rules open the door for both banks and nonbank institutions to issue compliant stablecoins: reserves must fully back them, redemptions must be timely, and custody services and foreign issuers are also covered.
The biggest change concerns “yield”: issuers still cannot pay interest directly, but a provision in the original draft that presumed rewards paid through third parties to be illegal was removed and replaced with case-by-case review.
This is a relief for platforms like Coinbase that offer rewards to holders of $USDC . The American Bankers Association denounced the move that same day, accusing the OCC of usurping Congress’s authority.
#稳定币 #GENIUS法案 #U.S. regulation
The rules open the door for both banks and nonbank institutions to issue compliant stablecoins: reserves must fully back them, redemptions must be timely, and custody services and foreign issuers are also covered.
The biggest change concerns “yield”: issuers still cannot pay interest directly, but a provision in the original draft that presumed rewards paid through third parties to be illegal was removed and replaced with case-by-case review.
This is a relief for platforms like Coinbase that offer rewards to holders of $USDC . The American Bankers Association denounced the move that same day, accusing the OCC of usurping Congress’s authority.
#稳定币 #GENIUS法案 #U.S. regulation