OCC Issues Waiver Guidance for Existing US Stablecoin Issuers Ahead of GENIUS Act

The Office of the Comptroller of the Currency (OCC) outlined a waiver route on Oct. 21 for existing US payment stablecoin issuers awaiting approval, stating that an application alone will not authorize continued issuance after the GENIUS Act takes effect on Jan. 18, 2027. Eligible applicants must submit a substantially complete written waiver request before Jan. 18, 2027, for relief lasting no more than 12 months from the effective date. As of Oct. 21, the OCC intake remains closed pending final Office of Management and Budget approval.