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On February 25, 2026, the federal Office of the Comptroller of the Currency (OCC), published draft regulations for payment stablecoin issuers under the GENIUS Act. The proposed rules focus on stablecoin activities of entities that the OCC will supervise under the GENIUS Act, including stablecoin issuers that are owned or chartered as national banks, as well as certain federally licensed nonbanks and foreign stablecoin issuers operating in the US.
The proposed regulations would cover a range of supervisory matters relating to permitted payment stablecoin issuers, including:
- Permitted (and prohibited) activities for stablecoin issuers;
- Reserve and net capital requirements;
- Requirements for redemption, risk management, audits, reporting, and supervision;
- Regulations regarding certain custody matters;
- Applications and registration processes for permitted stablecoin issuers; and
- Provisions for supervisory and enforcement actions.
Public comments are due 60 days from the date of publication of the proposed rules in the Federal Register.
