- OCC Comptroller Jonathan Gould expects the agency to finalize stablecoin rules by November.
- The 376-page proposal covers reserves, redemption, liquidity, audits, custody, risk management and issuer wind-downs.
- The OCC wants the framework ready ahead of the GENIUS Act deadline and expects to begin processing stablecoin issuer applications in 2027.
The Office of the Comptroller of the Currency said it is moving quickly to complete its stablecoin rules as the GENIUS Act deadline approaches. Speaking Wednesday at the Wyoming Blockchain Symposium hosted by SALT in Jackson, Comptroller Jonathan Gould said the agency wants a final rule out by November after missing an earlier July target. The stablecoin rules are meant to implement the framework President Donald Trump signed in July 2025, with the law set to take effect in January 2027. Gould said the OCC is weighing industry feedback and wants the work finished in time to begin processing issuer applications within the new year.
Stablecoin rules timeline at the OCC
Jonathan Gould said the OCC is working at a rapid pace and expects to publish its final rule by November. He described that schedule as necessary because the agency faces a Jan. 18 statutory deadline to have regulations in place before the GENIUS Act takes effect in January 2027. The OCC had already missed an earlier July target. That delay added to concerns about ongoing regulatory uncertainty, as the law requires federal regulators to set the detailed framework for payment stablecoins before the new regime begins.
What the proposal covers
The OCC released a 376-page draft in February and kept it open for public comment through May. According to the agency, the proposal addresses the full life cycle of a payment stablecoin rather than a narrow set of operating requirements. The draft lays out standards for reserve assets, redemption at par, liquidity, risk management, audits, custody and supervision. It also covers how a failed issuer would be wound down. Anti-money-laundering and sanctions requirements were separated into another rulemaking effort coordinated with the Treasury Department.
Stablecoin rules and issuer access in 2027
Gould said the OCC expects to begin processing applications from stablecoin issuers in 2027. He said the agency wants the final rule completed soon enough to support that next phase once the legal framework is in force. He also said digital-asset chartering activity has risen eightfold compared with the Biden administration. Gould criticized the prior administration’s approach to crypto risk as shortsighted while pointing to stronger interest in federal oversight.
Market stakes under the GENIUS Act
The GENIUS Act limits access to permitted issuers, meaning only approved firms will be able to offer payment stablecoins to Americans. That raises the significance of the rulemaking process now underway at the OCC and other agencies. Treasury has separately proposed rules that would stop platforms from selling noncompliant stablecoins to U.S. customers once the law’s provisions take effect. The OCC, however, did not provide a firm date within November for publication of the final rule.
Conclusion
The OCC’s latest timeline shows how central the stablecoin rules have become to the rollout of the GENIUS Act. Gould said the agency plans to finish the rules by November, even after missing its earlier July target, so it can meet the Jan. 18 statutory deadline ahead of the law’s January 2027 effective date. The proposal already on the table is broad, spanning reserves, redemption, liquidity, audits, custody and wind-downs, while related anti-money-laundering and sanctions issues are being handled separately with Treasury. With issuer access limited to permitted firms under the law, the remaining rulemaking process will shape how payment stablecoins move into this new federal framework.
Disclaimer
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from any company.
Featured image created by AI
