The Office of the Comptroller of the Currency is seeking feedback on its new proposal to implement the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.
“The OCC has given thoughtful consideration to a proposed regulatory framework in which the stablecoin industry can flourish in a safe and sound manner,” said Comptroller of the Currency Jonathan V. Gould in the Wednesday statement.
The GENIUS Act, enacted in July 2025, is a landmark legislation that established the first federal regulatory framework for payment stablecoins in the U.S., setting crucial requirements for issuer eligibility, asset reserves, custody, and others.
According to the statement, the proposal covers all the regulations the OCC is required to promulgate under the GENIUS Act, while those related to other laws, such as the Bank Secrecy Act, will be addressed in a separate rulemaking.
The OCC is giving a 60-day window for feedback on the proposal.
The proposal
The 376-page proposal clarifies the OCC’s jurisdiction for implementing the stablecoin regulations.
The OCC stated that it will have authority over certain issuers, including subsidiaries of national banks or federal savings associations, federal qualified payment stablecoin issuers, state qualified payment stablecoin issuers, and foreign stablecoin issuers.
The proposal stipulates standards for payment stablecoin issuers that align with the GENIUS Act. This includes reserve requirements mandating at least one-to-one backing with identifiable, highly liquid assets.
Capital and liquidity requirements for issuers would be tailored “case-by-case” depending on the issuer’s risk profile. It also stipulates that issuers must redeem stablecoins at par within two business days generally, and maintain a robust, “principles-based” risk management system regarding operational transitions, cybersecurity, and third-party risks.
The OCC’s proposal for the landmark stablecoin bill is just one piece in a government-wide effort to implement the GENIUS Act through coordinated rulemaking by the primary regulators, with others including the Federal Reserve, the Federal Deposit Insurance Corporation, and the National Credit Union Administration.
According to the proposal, the GENIUS Act’s effective date is the earlier of 18 months after the enactment date, which would make it Jan. 18, 2027, or 120 days after the primary regulators issue final regulations implementing the Act.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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