OCC Finalizes GENIUS Act Payment Stablecoin Rules Effective January 2027
The OCC's final GENIUS Act rule, with revised stablecoin reporting forms and waiver guidance, takes effect January 18, 2027 for national banks, federal savings associations and foreign issuers.
On October 21, 2026, the Office of the Comptroller of the Currency issued a final rule implementing the GENIUS Act for payment stablecoin issuance, covering national banks, federal savings associations, federal branches and their subsidiaries, foreign payment stablecoin issuers, and nonbank or state entities pursuing federal qualified payment stablecoin issuer status. The rule takes effect January 18, 2027; Bank Secrecy Act, anti-money laundering and OFAC sanctions rules are reserved for a separate Treasury-coordinated rulemaking. The OCC also finalized revised weekly and quarterly reporting forms for permitted and foreign issuers, open for 30-day comment, and issued a bulletin on waiver and application procedures.
Separately, Treasury proposed regulations under the 21st Century ROAD to Housing Act restricting large institutional investors from purchasing single-family homes and codifying Executive Order 14376.
Counsel should test the covered-entity perimeter and product design against the final rule and calendar January 2027 readiness. Note that industry criticism of ambiguity in the stablecoin yield prohibition (Bank Policy Institute) is advocacy characterization, not agency interpretation.