OCC finalizes the GENIUS Act stablecoin rulebook – a watershed moment.
The OCC’s final rule sets requirements for permitted payment **stablecoin** issuers, foreign issuers under its jurisdiction, and certain custody activities supervised by the agency.
It outlines reserve backing, redemption and risk‑management standards, implementing the **GENIUS Act** signed in July 2025 and slated to take effect on January 18, 2027.
Treasury Secretary Scott Bessent likened the act to Lincoln’s 1863 National Currency Act, saying it creates a federal framework for payment **stablecoins** in the **digital assets** era.
The agency reviewed hundreds of comments from crypto firms, community banks, trade groups, academics and others. Issues such as the Bank Secrecy Act, anti‑money‑laundering and sanctions will be addressed in a separate rulemaking with the Treasury.
Do you think the January 2027 effective date gives the industry enough time to adapt?
#Stablecoin #DigitalAssets #FinTech #Regulation #Crypto
The OCC’s final rule sets requirements for permitted payment **stablecoin** issuers, foreign issuers under its jurisdiction, and certain custody activities supervised by the agency.
It outlines reserve backing, redemption and risk‑management standards, implementing the **GENIUS Act** signed in July 2025 and slated to take effect on January 18, 2027.
Treasury Secretary Scott Bessent likened the act to Lincoln’s 1863 National Currency Act, saying it creates a federal framework for payment **stablecoins** in the **digital assets** era.
The agency reviewed hundreds of comments from crypto firms, community banks, trade groups, academics and others. Issues such as the Bank Secrecy Act, anti‑money‑laundering and sanctions will be addressed in a separate rulemaking with the Treasury.
Do you think the January 2027 effective date gives the industry enough time to adapt?
#Stablecoin #DigitalAssets #FinTech #Regulation #Crypto