Last updated on March 5th, 2026 at 07:22 pm
The Office of the Comptroller of the Currency (OCC) has released a notice of proposed rulemaking to implement the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, signalling the next phase of federal oversight for payment stablecoins in the United States.
Great progress with a goal of finalizing rules by July. NCUA and now the OCC has proposed their stablecoin rule. Onwards!
— Mark Dempsey (@mdemp311) February 26, 2026
The proposal outlines how permitted payment stablecoin issuers, including certain foreign issuers operating under OCC jurisdiction, would be regulated. It also addresses custody activities conducted by OCC-supervised institutions, an area increasingly central to banks exploring digital asset services.
Comptroller of the Currency Jonathan V. Gould said the agency had developed a framework aimed at allowing the stablecoin sector to “flourish in a safe and sound manner,” while inviting public comment to refine the final rule. Feedback will be accepted for 60 days following publication in the Federal Register.
Defining the guardrails for stablecoin issuers
The proposed rule includes key regulatory requirements from the GENIUS Act, such as standards for issuing stablecoins, managing reserves, staying operationally resilient, and being supervised. Rules about the Bank Secrecy Act, Anti-Money Laundering, and sanctions enforcement will be handled separately with the U.S. Department of the Treasury.
This separation shows the complexity of integrating stablecoins into the existing banking architecture. By sequencing rulemakings, the OCC appears focused on clarifying prudential expectations first, before layering in financial crime compliance measures.
Banking system integration takes shape
The proposal marks a turning point in how U.S. regulators view stablecoins, not merely as crypto instruments, but as potential components of mainstream payment infrastructure. By establishing federal standards for issuers under its supervision, the OCC is effectively opening a regulated pathway for banks and affiliated entities to engage with dollar-backed digital tokens.
Industry observers say the OCC’s proposal puts stablecoins on a clear regulatory footing, removing much of the prior uncertainty. The rules would require redemption within two business days and restrict reserves to government money market funds, Fed balances, demand deposits, and short-term Treasury bills, formally recognizing stablecoins as payment tools.
Great progress with a goal of finalizing rules by July. NCUA and now the OCC has proposed their stablecoin rule. Onwards!
— Mark Dempsey (@mdemp311) February 26, 2026
At the same time, the American Bankers Association has urged the OCC to pause approvals of national trust bank charters for crypto and stablecoin firms, arguing that the regulatory landscape remains unsettled.
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