OCC finalizes GENIUS Act rules for stablecoin issuers and custody activities

The Office of the Comptroller of the Currency finalized rules Wednesday implementing the GENIUS Act for payment stablecoin issuers and custody activities. Issuers must maintain reserves worth at least as much as their outstanding stablecoins and generally process redemption requests within two business days. The rule applies to national banks, federal savings associations, and nonbank firms with federal qualified issuer status, taking effect Jan. 18, 2027.