Timeline
- 8.0
OCC Races to Finalize GENIUS Act Stablecoin Rules by November
OCC head Jonathan Gould announced at the Wyoming Blockchain Symposium that the agency will finalize its GENIUS Act stablecoin rules by November, ahead of the January 18 statutory deadline. The agency expects to begin processing issuer applications in 2027. This timeline gives stablecoin issuers and platforms a clearer regulatory path, reducing uncertainty ahead of the law's January 2027 effective date. Only permitted issuers will be able to offer payment stablecoins to Americans once the rules take effect. The 376-page proposal, released in February and open for comment through May, covers reserves, redemption at par, liquidity, risk management, audits, custody, and wind-downs. Anti-money-laundering and sanctions requirements are being handled in separate rulemaking coordinated with the Treasury. The OCC did not specify an exact date within November.
- 9.0
Treasury Proposes Stablecoin Issuer Licensing Rules Under GENIUS Act
The US Treasury proposed rules implementing Section 3 of the GENIUS Act, defining when stablecoins are issued, offered, or sold in the US. Beginning January 18, 2027, issuers must generally obtain a federal or state license, and from July 18, 2028, platforms will be restricted from selling unapproved stablecoins to US customers. As the first major Treasury rule under the GENIUS Act, the proposal establishes a federal/state licensing regime that will materially reshape US stablecoin market access and industry structure. Issuers, exchanges, and users will all be affected by the approval-based listing restrictions and compliance deadlines. Foreign-issued stablecoins may still be sold, but only if the foreign issuer complies with US legal orders and agreements between the US and its home jurisdiction. Violations would include soliciting US buyers, advertising availability, or helping buyers bypass IP checks; public comments are due by October 19, 2026.