OCC Sets Jan. 18, 2027, Start Date for U.S. Stablecoin Rules

A new OCC framework for payment stablecoin issuers takes effect Jan. 18, 2027, the same date as the GENIUS Act.

The rules cover reserves, redemptions, risk management, audits, reporting, supervision, custody, capital and issuer applications. Permitted issuers must keep identifiable reserve assets valued at least equal to the payment stablecoins they have issued. Eligible assets include cash, demand deposits, certain Treasury securities, specified repurchase agreements and qualifying government money market funds.

The effective date does not automatically shut every stablecoin issuer out of the U.S. market. Existing U.S. issuers with substantially complete applications pending by that date may request waivers from the prior-approval requirement. The OCC generally expects to grant those waivers unless it finds stronger grounds to deny them.

The OCC has not opened applications. It plans to accept them after the Office of Management and Budget approves the related information collection, then announce the opening separately.

Bank Secrecy Act, anti-money laundering and sanctions requirements will be addressed in separate rulemaking with the Treasury Department. Congress enacted the GENIUS Act on July 18, 2025.