Key Highlights
- OCC proposes clear rules for stablecoin issuers, aiming to make payments safer and more reliable across the U.S.
- GENIUS Act limits stablecoin issuance to approved U.S. or qualified foreign issuers, reducing confusion and boosting trust.
- New regulations clarify operations, encourage feedback, and aim to protect users while supporting stablecoin growth.
The Office of the Comptroller of the Currency (OCC) is seeking public comment on new regulations for payment stablecoins under the GENIUS Act. The proposed rule establishes clear rules for permitted and foreign stablecoin issuers under OCC supervision.
Comptroller Jonathan V. Gould emphasized that the framework aims to help stablecoins “flourish in a safe and sound manner.” The rule also covers certain custody activities, while anti-money laundering and sanctions regulations will be addressed separately with the Treasury.
Apart from this federal oversight, the proposal makes it clear who can issue a payment stablecoin in the U.S. This is important because until now, the regulations regarding stablecoins have been scattered around different states’ laws and voluntary guidelines.
Now, the GENIUS Act sets strict rules so only approved domestic or qualified foreign issuers can offer stablecoins to U.S. users. As a result, the new rules could make stablecoins safer, reduce confusion, and boost trust for payments and cross-border transfers.
Federal oversight and industry impact
The GENIUS Act, passed on July 18, 2025, makes it illegal for anyone to issue payment stablecoins without permission. It also limits sales by digital asset service providers and sets rules for how both U.S. and foreign issuers must operate.
The OCC is now laying out regulations to enforce these rules and is working with other agencies on anti-money laundering and sanctions issues. The agency is also asking for feedback from the industry to make sure the rules are practical and effective. As Comptroller Jonathan Gould said, “We welcome feedback on the proposal to inform a final rule that is effective, practical and reflects a broad industry perspective.”
Stablecoins, which are digital currencies usually pegged at a one-to-one ratio to the US dollar or other currencies, are increasingly used for trading, lending, remittance, and fast cross-border payments. However, the rapid rise of stablecoins has led to uncertainty for both issuers and users. OCC’s new framework seeks to clarify confusion, safeguard users, and facilitate the development of the stablecoin market.
This move marks a step toward officially recognizing stablecoins in the U.S. It brings clearer rules and could make stablecoins safer and easier for everyday use.
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