OCC Fast-Tracks Stablecoin Rules for November After Summer Delay

A crucial regulatory push is underway in Washington as federal bank overseers move to complete baseline stablecoin regulations by November ahead of binding federal statutory mandates.

Jonathan Gould, senior official at the Office of the Comptroller of the Currency, detailed the rulemaking calendar Wednesday during the Wyoming Blockchain Symposium, an event hosted by SALT in Jackson. Gould emphasized that regulators are acting urgently and intend to issue the finalized regulations in November following review of extensive input from digital asset participants.

“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.

The upcoming standards will operationalize the GENIUS Act, the comprehensive digital dollar law signed by President Donald Trump in July 2025. The statute directs regulatory bodies to establish concrete requirements for payment stablecoins prior to its full implementation in January 2027. Although government authorities face a Jan. 18 legal deadline to enact final rules, the OCC missed a previous self-imposed July benchmark, escalating industry concerns regarding regulatory delays.

Released in February for a public review period through May, the OCC’s 376-page proposed rule sets comprehensive parameters across the entire operational lifecycle of a payment stablecoin. The measure establishes explicit standards for reserve asset composition, 1:1 par redemptions, liquidity holdings, risk controls, financial audits, asset custody, and supervisory oversight, alongside resolution protocols for distressed issuers. Separate rulemaking regarding anti-money laundering and international sanctions is being managed in tandem with the Treasury Department.

Establishing statutory rules for high-quality reserve backing and guaranteed par redemptions follows historic runs in the digital asset sector, where unbacked and algorithmic stablecoins suffered catastrophic de-pegging events. By requiring issuers to hold cash and short-term U.S. government debt, regulators aim to shield financial markets from systemic contagion during periods of crypto market stress.

Gould noted that the OCC anticipates accepting stablecoin license applications starting in 2027. Highlighting heightened commercial interest in securing national supervision, he reported that digital-asset charter applications have increased eightfold compared to the Biden administration, while arguing that the previous leadership took a shortsighted approach toward managing crypto risks.

Legal compliance carries significant consequences for stablecoin operators. Under the terms of the GENIUS Act, only authorized entities will be permitted to issue payment stablecoins to U.S. residents, while parallel proposals from the Treasury Department seek to prohibit exchanges from listing noncompliant tokens for domestic retail trading once full enforcement begins.

Regulators stopped short of identifying a specific day during November for the release of the final regulatory text.