Overview
- Comptroller Jonathan Gould told a Wyoming conference that the Office of the Comptroller of the Currency is aiming to publish final GENIUS Act regulations in November.
- The agencies missed the statute’s one‑year deadline that fell on July 18, 2026, and ten proposed rulemakings remained open across the OCC, FDIC, NCUA, Treasury, and FinCEN when the deadline passed.
- The OCC’s draft, published Feb. 25 and opened for comment through May 1, would cover the full payment‑stablecoin lifecycle and impose bank‑style reserve, redemption‑at‑par, liquidity, capital, custody, audit, and supervision requirements on supervised issuers.
- Treasury and FinCEN have separate proposals addressing anti‑money‑laundering, sanctions, customer ID, and whether a stablecoin is treated as issued or sold in the United States, and the FDIC and NCUA have issued parallel rules that aim to align with the OCC framework.
- Market participants are already responding: the OCC said approval activity has risen sharply with about 40 de novo bank applications reported in the past 18 months, and the final rule timetable will determine when those applicants must meet the new federal compliance standards.