OCC races to finalize GENIUS Act stablecoin rules by November

The Office of the Comptroller of the Currency is stepping on the gas to finalize rules by November to implement a stablecoin law signed by President Donald Trump, according to OCC Comptroller Jonathan Gould.On Wednesday in Wyoming at the annual SALT conference, Gould said the banking regulator received comments and made changes to its initial proposal. In February, the OCC asked for public feedback on its 376-page rule, which clarifies the agency's jurisdiction over stablecoin regulation, including capital and liquidity requirements for risk management."So we are very intent on moving quickly and getting a final rule out by November so that we will be able to start processing applications within the new year," Gould said.In July 2025, Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins, or GENIUS, into law. The bill seeks to create a federal regulatory framework for stablecoins, requiring stablecoins to be fully backed by U.S. dollars or similarly liquid assets, mandating annual audits for issuers with a market capitalization of more than $50 billion, and establishing guidelines for foreign issuance.Agencies like the OCC, the Federal Deposit Insurance Corporation, and others were directed to finalize rules by July, but missed that initial deadline. Agencies often take longer to implement new rules, but Gould said on Wednesday that the agency will have the rule out before the GENIUS Act's January 2027 effective date.After passing GENIUS, lawmakers narrowed their focus to passing larger comprehensive legislation, called the Clarity Act, which would regulate the industry for the time being at the federal level. However, that bill has hit one hurdle after the other and seems unlikely to pass into law this year unless negotiations fall into place around Trump's crypto conflicts of interest as well as the treatment of stablecoin rewards."We don't know if or when or what may be the end result of that process, the Clarity Act that is," Gould said. "What we have is the GENIUS Act. That's been law for over a year now, and we need to execute on that."Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.