The OCC, FDIC, and NCUA have advanced parallel stablecoin proposals under the GENIUS Act, the landmark legislation signed into law on July 18, 2025, establishing a federal framework for payment stablecoins. The OCC missed the statutory deadline of July 18, 2026, for finalizing implementing rules and is now targeting November 2026 for its final rule. The proposed rule covers reserve backing requirements, risk management frameworks, and capital and liquidity standards that mirror obligations placed on traditional depository institutions. The FDIC and NCUA have issued parallel proposals to align with the OCC’s framework, while the Treasury Department and FinCEN have addressed AML and sanctions compliance obligations. The GENIUS Act takes effect on January 18, 2027, or 120 days after final rules are issued, whichever comes first.
Source: Read the original article
