OCC Issues Final GENIUS Act Stablecoin Rule Ahead of January 18, 2027 Effective Date, Drops Proposed Rewards Presumption

The Office of the Comptroller of the Currency issued its final rule implementing the GENIUS Act on Wednesday, October 21, 2026, setting the requirements for stablecoin issuers under its oversight ahead of the January 18, 2027 effective date. Comptroller Jonathan Gould said the agency is “providing a clear, practical framework for payment stablecoin innovation, with strong standards for reserve backing, redemption, and risk management.” The Crypto Times reports the OCC is the first federal banking regulator to complete its part of the stablecoin rulebook, and that the final text drops a contested proposal that would have presumed certain third-party stablecoin reward arrangements to be unlawful, while stating “The OCC declines to presume that rewards programs that predated the GENIUS Act comply with the GENIUS Act.” The same outlet reports approximately 328 comments. Bank Secrecy Act, anti-money laundering and sanctions rules are not included and will come in a separate rulemaking with Treasury.

Context: Treasury Secretary Scott Bessent compared the GENIUS Act to Abraham Lincoln’s National Currency Act of 1863. Regulators missed the law’s earlier July deadline for finalizing their rules. Related: 2026-06-24–genius-act-occ-stablecoin-charters-crypto-industry-reserve-standards, 2026-08-17–treasury-genius-act-section-3-stablecoin-nprm-criminal-penalties, 2026-04-10–genius-act-aml-sanctions-comment-docket-open, 2025-07-18–trump-signs-landmark-genius-act-hailing-exciting-new-frontie.