US OCC releases final implementation rules for the GENIUS Act stablecoin, set to take effect in January 2027.

On October 21, according to The Block, the U.S. Office of the Comptroller of the Currency (OCC) released the final implementation rules for the GENIUS Act, becoming the first U.S. regulatory agency to finalize related stablecoin regulations. The rules will take effect on January 18, 2027.

The final rules establish a regulatory framework for approved stablecoin issuers, outlining pathways for both banks and non-bank institutions to conduct payment stablecoin business, while also setting standards for foreign stablecoin issuers and asset custody. Under the GENIUS Act, stablecoins must be fully backed by U.S. dollars or comparable highly liquid assets and undergo annual audits.

Notably, the final rules modify provisions regarding stablecoin incentives relative to the initial proposal. The OCC maintains its prohibition on issuers directly paying interest to stablecoin holders but removes the previous presumption that certain commercial relationships between issuers and third parties would constitute violations; these will now be evaluated on a case-by-case basis. Regulatory officials noted that should arrangements be discovered that clearly attempt to circumvent legally prohibited actions, the OCC retains the authority to pursue enforcement measures.