POPA ReconThe OCC finalized Oct. 21, 2026 the first federal rule implementing the GENIUS Act for payment stablecoin issuers, as Scott Melker and CoinMarketCap reported.
The rule sets standards for reserve backing, redemption and risk management, with OCC head Jonathan Gould saying it provides "a clear, practical framework for payment stablecoin innovation," per Bloomberg Law.
It takes effect Jan. 18, 2027, the date named in both X posts and the Bloomberg summary.
Treasury Secretary Scott Bessent called the GENIUS Act "a watershed moment" and said the rule gives a practical foundation for US leadership in digital assets, per CoinMarketCap.
Telegram channel Capital News reports the rule clarifies how banks and firms can get a US stablecoin license and requires redemption within 2 business days.
The same channel reports issuers remain barred from paying interest, but exchange and partner yield is not treated as a per se violation and will be reviewed case by case, softer than the draft.
Material uncertainty remains on full reserve composition, capital, custody and examination details since the OCC release text itself was not readable in this run.