OCC Sets Rules for Stablecoin Issuers Under GENIUS Act

The Office of the Comptroller of the Currency has established new guidelines for payment stablecoin issuers. Starting January 18, 2027, when the GENIUS Act takes effect, simply submitting an authorization request will not guarantee the right to continue issuing tokens.

Companies already operating in the United States must formally request a written exemption. The regulator expects applications to be substantially complete by the deadline. The agency may still deny requests if it identifies compelling reasons for such action.

New standards require issuers to maintain reserves equal to the total value of coins in circulation. Redemption requests must generally be processed within two business days. The law also prohibits paying interest or yields to holders solely for owning the asset.

Regulations cover national banks, federal savings associations, and non-bank firms seeking qualified issuer status. The agency has not yet begun officially accepting applications as it awaits additional administrative approvals for the forms.

Granted exemptions will be valid for a maximum of 12 months. The regulator will monitor industry developments to make future adjustments given the early maturity stage of the digital asset sector.