OCC Unveils First U.S. Payment Stablecoin Issuer Rules Under GENIUS Act
The Office of the Comptroller of the Currency has introduced the first federal framework for payment stablecoin issuers, marking a pivotal step in the U.S. regulatory landscape. The proposal, mandated by the GENIUS Act, sets stringent requirements for issuers, including full reserve backing and a two-day redemption window.
National banks, federal savings associations, and qualifying state issuers must adhere to these rules, which aim to standardize oversight as the stablecoin market expands. The OCC explicitly prohibits unlicensed issuance, reinforcing its authority over the sector.
De novo entrants face particularly high barriers, with capital requirements tied to 12 months of operational expenses. This move signals growing institutional recognition of stablecoins' role in payments, potentially accelerating mainstream adoption.
