OCC head Jonathan Gould says stablecoin rules will be finalized by November under the GENIUS Act, with applications starting in 2027. The 376-page proposal covers reserve assets, redemption, and custody.
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The U.S. Office of the Comptroller of the Currency plans to finalize its stablecoin rules by November, moving ahead of a statutory deadline that takes effect in January 2027. Jonathan Gould, head of the OCC, laid out the timeline Wednesday at the Wyoming Blockchain Symposium in Jackson.
“We are very intent on moving quickly and getting a final rule out by November so that we will be able to start processing applications within the new year,” Gould said.
The rules implement the GENIUS Act, the stablecoin framework signed by President Donald Trump in July 2025. The law requires federal regulators to write detailed rules for payment stablecoins and gives them until Jan. 18 to finish. The OCC had already missed an earlier July target, a slip that fed concern about lingering regulatory uncertainty.
The agency’s proposal, a 376-page draft released in February and opened for public comment through May, covers the full life cycle of a payment stablecoin. It spells out requirements for reserve assets, redemption at par, liquidity, risk management, audits, custody and supervision, along with the process for winding down a failed issuer. Anti-money-laundering and sanctions requirements were carved out into separate rulemaking coordinated with the Treasury Department.
Gould said the agency expects to begin processing applications from stablecoin issuers starting in 2027. He also pointed to a surge of interest in federal oversight, saying digital-asset chartering activity has jumped eightfold compared with the Biden administration. He criticized the prior administration’s approach to crypto risk as shortsighted.
Under the GENIUS Act, only permitted issuers will be able to offer payment stablecoins to Americans. Treasury has separately proposed rules that would bar platforms from selling noncompliant stablecoins to U.S. customers once the law’s provisions kick in.
The OCC did not lay out a firm date within November for the final rule.
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