The Office of the Comptroller of the Currency finalized the rule implementing the GENIUS Act on October 21, 2026, and it will take effect on January 18, 2027. The framework covers payment stablecoins issued by national banks and certain nonbank issuers under OCC jurisdiction, with three core pillars: reserve backing, capital requirements, and custody practices. Issuers must meet a $5 million capital floor, while tokenized deposits are excluded from the definition of a payment stablecoin. After the effective date, operating without approval may carry criminal penalties, and existing issuers may receive waivers of up to 12 months while they seek approval under the new rules.
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