The Treasury and four other agencies missed the GENIUS Act's July 18 deadline for final stablecoin rules. BlackRock is pushing the OCC to drop a 20% reserve cap. The law still takes effect Jan. 18, 2027.
Alpha Score of 67 reflects moderate overall profile with strong momentum, weak value, moderate quality, strong sentiment.
The Treasury Department and five federal agencies have missed the one-year deadline to finalize regulations under the GENIUS Act, leaving stablecoin issuers without binding compliance rules seven months before the law takes effect on Jan. 18, 2027.
President Donald Trump signed the GENIUS Act on July 18, 2025, giving the Treasury, OCC, FDIC, Federal Reserve, and NCUA until July 18, 2026, to publish final rules. None of the agencies met that date. Several proposals remain open for public comment, including comment periods that stretch past the statutory timeline.
The proposed rules cover reserve asset requirements, liquidity standards, custody, anti-money laundering checks, redemption procedures, and registration terms for foreign stablecoin issuers. The final framework could still shift as agencies weigh industry feedback.
BlackRock has pushed the OCC to drop a proposed 20% cap on tokenized reserve assets and asked for confirmation that Treasury ETFs qualify as eligible reserves. The Treasury also has not yet set the certification process for state-regulated issuers with less than $10 billion in outstanding stablecoins to stay under state supervision, provided their regime is deemed substantially similar to federal standards.
With no finalized rules, companies may have to prepare against proposed text that could change. If the final requirements diverge, issuers face higher compliance costs and last-minute operational shifts. Congress is expected to increase oversight as the Jan. 18, 2027, effective date approaches.
Drafted by a large language model from the source reporting linked above, then screened by automated publishing checks. It is not read by a journalist before publication. Some articles cite our Alpha Score. Verify prices and figures against the original source. Educational coverage, not personalized advice.