The OCC finalized its GENIUS Act rule for payment stablecoins on Oct 21, 2026, with the Act and rule taking effect Jan 18, 2027, as the first federal regulator to do so. Activist posts describe it as a 721-page framework in Bulletin 2026-50 covering reserves, redemption, capital, custody, risk management and supervision, plus continuity waivers in Bulletin 2026-51.

The OCC finalized its GENIUS Act rule for payment stablecoins on Oct 21, 2026, with the Act and rule taking effect Jan 18, 2027, as the first federal regulator to do so. Activist posts describe it as a 721-page framework in Bulletin 2026-50 covering reserves, redemption, capital, custody, risk management and supervision, plus continuity waivers in Bulletin 2026-51.

Issuers under OCC oversight need full reserve backing at all times, redemption generally within two business days, with a temporary extension if daily redemptions exceed 10% of issuance, plus standards for capital, custody and audits. Summaries list permitted issuers as national bank subsidiaries, approved nonbanks and certain foreign issuers, with eased reserve-asset flexibility versus the proposal.

The big change is rewards: the GENIUS ban on issuers paying interest for holding stays, but the draft presumption that certain third-party ties were circumvention was dropped for case-by-case review. Coverage notes exchanges can argue their programs, with no grandfathering or broad DeFi safe harbor.

Treasury framed it as cementing American dominance in digital assets, with posts citing Circle up about 5.22% to ~$90.40. Banks are pushing back, with the American Bankers Association accused of saying the rewards reading undercuts Congress, leaving future policy risk.

The supplied holder/issuer specifics like 1 coin, 5% instant cash, 40% counterparty, $5M capital and 15-day wind-down appear only in the forwarded rulebook summary, not verified in an official release read.