The Office of the Comptroller of the Currency (OCC) unveiled a comprehensive proposal to implement the GENIUS Act, marking an important step toward federally regulated stablecoin activity in the United States.
New OCC Stablecoin Rule Proposal Calls for Federal Oversight
The Notice of Proposed Rulemaking, published February 25, describes how payment stablecoins can be issued, collateralized, supervised, and potentially revoked under federal banking supervision.
Under the proposed rules, the OCC would regulate “authorized payment stablecoin issuers,” including subsidiaries of national banks, federal qualified issuers, certain state qualified issuers, and foreign issuers of stablecoins meeting specified requirements.
The proposal establishes standards for reserve assets, mandatory repurchase at par, liquidity and risk management, audits, supervisory reviews, custody and application procedures, laying the foundation for the operation of stablecoins within the traditional banking system.
The OCC opened a 60-day public comment period to gather feedback from industry, stakeholders and the public before finalizing the rules. Key aspects such as anti-money laundering provisions, Bank Secrecy Act requirements and sanctions rules will be addressed separately in coordination with the US Treasury Department.
Comptroller Jonathan V. Gould described the proposed framework as designed to help the stablecoin industry “thrive in a safe and healthy manner,” while providing clarity and regulatory certainty for issuers operating under federal supervision.
The GENIUS Act, signed into law in July 2025, created a federal regulatory structure for payment stablecoins after years of debate over how to integrate digital assets into U.S. financial law.
The OCC proposal represents a historic effort to translate this law into enforceable federal rules that could shape how banks, non-banks, and foreign companies issue and manage stablecoins in the years to come.