First out the gate: OCC debuts final rule implementing Trump-signed GENIUS Act
OCC published its final GENIUS Act stablecoin rule, effective Jan. 18, dropping a proposed presumption on third-party rewards arrangements.
The Office of the Comptroller of the Currency (OCC) has published its final rule implementing the GENIUS Act, the landmark stablecoin legislation signed into law by President Donald Trump. The rule is set to take effect on January 18, making the OCC the first federal regulator to issue binding implementation guidance under the new framework. Notably, the final rule dropped a proposed presumption that had been included in earlier drafts concerning third-party rewards arrangements.
The GENIUS Act established the first comprehensive federal regulatory framework for payment stablecoins in the United States, outlining reserve requirements, issuer eligibility, and oversight responsibilities across federal and state agencies. The OCC's rulemaking reflects its authority over nationally chartered banks and federal savings associations that seek to issue or hold stablecoins under the new law.
The publication of a final rule carries significant implications for banks and fintech firms positioning themselves to enter the stablecoin market. By removing the proposed presumption around third-party rewards arrangements, the OCC signaled a more flexible stance on certain business models, potentially broadening the range of permissible stablecoin-related services that regulated institutions can offer.
Market observers will now be watching whether other federal regulators, including the Federal Reserve and the FDIC, move quickly to release their own GENIUS Act implementation rules, and how state-level regulators align their frameworks with the new federal baseline.
Source: The Block
