Current outcome
The OCC has finalized its rule implementing the GENIUS Act, establishing a stablecoin issuance and custody framework; the ABA has publicly criticized the rule, particularly its abandonment of proposed stablecoin yield restrictions, warning of bank deposit outflow risks.
Progress timeline
4 material updates- #01
【美国 OCC 发布《GENIUS Act》首个最终规则，不预设现有稳定币奖励计划合规】
The U.S. OCC issued its final rule implementing the GENIUS Act — the first such final rule from a federal banking regulator — establishing the framework for regulated and foreign firms to issue and custody stablecoins from January 18, 2027, while refusing to presume existing stablecoin rewards programs are compliant or to offer them a safe harbor, applying a case-by-case reading of the ban on rewards paid 'solely' for holding or using a stablecoin, and replacing proposed rebuttable presumptions and prescriptive reserve diversification limits with principles-based supervision.
Source evidence: foresightnews · theblockbeats · wublockchainenglish · theblockbeats · Cointelegraph · Cointelegraph · theblockbeats · foresightnews · foresightnews
- #02
OCC Finalizes GENIUS Act Stablecoin Rules Ahead of January Deadline
The final rule further clarifies that Bank Secrecy Act, AML and sanctions requirements are excluded and will be handled in a separate joint rulemaking with Treasury; the OCC will separately announce when it begins accepting issuer applications and waiver requests, and the rule covers reserves, redemption, risk management, custody, capital and state-qualified issuer transitions.
State after update: The OCC has issued its final rule implementing the GENIUS Act, setting reserve, redemption, risk-management, custody and capital requirements for payment stablecoin issuers under its jurisdiction when the law takes effect on January 18, 2027; AML and sanctions rules are deferred to a joint rulemaking with Treasury, and the timing for accepting applications and waivers will be announced separately.
Source evidence: Decrypt
- #03
美国银行家协会不满OCC最终《GENIUS法案》规则放弃拟议的稳定币收益限制
The OCC's final GENIUS Act rule abandons proposed restrictions on stablecoin yield, prompting the American Bankers Association to warn that the decision preserves crypto platforms' current advantages and risks bank deposit outflows.
Source evidence: theblockbeats
- #04
【美 ABA 对 OCC 发布的《GENIUS Act》最终规则表示不满】
The American Bankers Association publicly criticized the OCC's final GENIUS Act rule, saying the OCC's abandonment of proposed stablecoin yield restrictions preserves the crypto-platform status quo and risks bank deposit outflows; the ABA CEO said waiting until outflows and economic harm occur to address the issue is the wrong approach.
State after update: The OCC has finalized its rule implementing the GENIUS Act, establishing a stablecoin issuance and custody framework; the ABA has publicly criticized the rule, particularly its abandonment of proposed stablecoin yield restrictions, warning of bank deposit outflow risks.
Source evidence: foresightnews