-
The OCC framework sets standards for domestic and foreign payment stablecoin issuers.
-
Issuers must hold one-to-one liquid reserves and redeem tokens at par within two business days.
-
The agency will coordinate with the Federal Reserve and Federal Deposit Insurance Corporation on final rules.
The Office of the Comptroller of the Currency released a proposed rule Wednesday to implement the GENIUS Act. The proposal outlines federal oversight for payment stablecoin issuers operating in the United States. The rulemaking opens a 60-day public comment period and sets early compliance expectations for eligible domestic and foreign issuers.
OCC Lays Out Stablecoin Oversight Scope
According to Eleanor Terrett, the OCC proposal defines supervision standards for permitted and foreign payment stablecoin issuers. The framework also covers specific custody activities conducted by OCC-supervised entities. Notably, the proposal does not include Bank Secrecy Act, AML, or OFAC requirements.
The OCC stated those provisions will follow in a separate rulemaking. That effort will occur in coordination with the Department of the Treasury. Meanwhile, the agency emphasized that stablecoins qualify as legally permissible payment tools under federal banking law.
Reserve, Redemption, and Risk Standards Defined
The 376-page proposal clarifies which issuers fall under OCC jurisdiction. These include national bank subsidiaries, federal qualified issuers, state qualified issuers, and foreign stablecoin firms. Each category must meet standards aligned with the GENIUS Act.
Reserve rules require one-to-one backing with identifiable, highly liquid assets. Additionally, issuers must redeem stablecoins at par within two business days. Capital and liquidity requirements would vary case by case, depending on issuer risk profiles.
The proposal also mandates a principles-based risk management framework. That includes controls for cybersecurity, operational transitions, and third-party relationships. According to the OCC, these measures support safe issuance and custody practices.
Rulemaking Timeline and Interagency Coordination
Comptroller Jonathan V. Gould said the proposal aims to support stablecoin growth while preserving safety and soundness. He added that public feedback will inform a practical final rule. The OCC confirmed ongoing coordination with other regulators.
Those agencies include the Federal Reserve, the Federal Deposit Insurance Corporation, and the National Credit Union Administration. Together, they will implement remaining GENIUS Act provisions.
The GENIUS Act became law in July 2025. Its effective date is January 18, 2027, or 120 days after final rules, whichever comes first.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
GOP Leaders Press Commerce Secretary Lutnick Over Crypto PAC's $1.75M Texas Political Spend
Gate News message, April 24 — Senior Republican officials contacted Commerce Secretary Howard Lutnick this week after Fellowship PAC, a crypto super PAC seeded by Cantor Fitzgerald (the firm Lutnick previously ran), signaled in a federal filing that it planned to spend $1.75 million backing Texas
GateNews57m ago
China's Central Bank and Eight Agencies Ban Network Marketing Services for Virtual Currency Trading
Gate News message, April 24 — China's central bank (PBoC) and seven other government agencies jointly issued the Financial Products Network Marketing Management Measures, which will take effect on September 30, 2026. The new regulations systematically govern financial product online marketing
GateNews2h ago
Hong Kong SFC Strengthens Global Regulatory Cooperation to Combat Illegal Activities by Financial Influencers
Gate News message, April 24 — Hong Kong's Securities and Futures Commission (SFC) announced it is working with securities regulators worldwide to combat illegal activities by financial influencers. Over the past year, the SFC has made progress through enforcement actions and collaboration with
GateNews3h ago
Wisconsin Sues Kalshi, Polymarket, Coinbase Over Sports Betting Contracts
The Wisconsin Department of Justice filed three complaints on Thursday in Dane County against Kalshi, Robinhood, Coinbase, Polymarket, and Crypto.com, alleging that their sports-related event contract offerings constitute illegal gambling under state law. Wisconsin Attorney General Josh Kaul stated
CryptoFrontier4h ago
Taiwan’s 14 brokerage firms have launched virtual asset ETFs via omnibus authorization for cross-advisory (sub-advisory) arrangements, with cumulative trading exceeding NT$98.99 billion New Taiwan dollars
According to the latest statistics provided by the Securities and Futures Bureau of the Financial Supervisory Commission, as of the end of March 2026, a total of 14 securities firms in Taiwan have launched virtual asset ETF cross-border/overseas custody (futures commission) re-delegation business, with cumulative trading exceeding NT$9.9B. Huang Zhonghao, Deputy Director of the Securities and Futures Bureau of Taiwan, stated that the Financial Supervisory Commission (FSC) has required the securities firms’ association to submit an assessment report on the performance of the virtual asset ETF cross-border/overseas custody (futures commission) re-delegation business over the past year, and that the assessment will expand eligibility to retail investors.
MarketWhisper5h ago
Bernie Sanders: Crypto projects like WLFI have contributed more than $3 billion to the Trump family
American independent senator Bernie Sanders of Vermont posted on the X platform on April 24, citing a report published in the January issue of The New Yorker, listing a breakdown of the income allegedly earned by the Trump family through cryptocurrency, Gulf transactions, and other sources, with an estimated total of $4.05 billion.
MarketWhisper5h ago
