OCC to Finalize GENIUS Act Rules for Stablecoins by November
The Office of the Comptroller of the Currency (OCC) expects to finalize its regulatory framework for the GENIUS Act by November, according to Comptroller of the Currency Jonathan V. Gould.
Regulatory Velocity and the GENIUS Act Mandate
The OCC initiated its rulemaking process ahead of the official enactment of the GENIUS Act, signaling a prioritized effort to integrate digital assets into the national banking system. Comptroller of the Currency Gould, speaking at the Wyoming Blockchain Symposium on August 19, confirmed the accelerated timeline. The regulator aims to bridge the gap between emerging payment technologies and legacy financial security mandates established in the 1860s.
By compelling stablecoin issuers to comply with the Bank Secrecy Act and specific provisions of the GENIUS Act, the OCC seeks to mitigate systemic risk.
Integration of Digital Assets in Bank Charter Applications
Over the 18 months since Trump took office, the OCC received 40 applications for new bank charters. Of these, 23 proposals—more than 50%—explicitly incorporate digital asset activity into their core business plans.
The Analogy of Reserve Asset Quality
Gould highlighted that the OCC’s supervisory objective remains consistent with its historical mission: ensuring the integrity of reserve assets. In the 19th century, this meant verifying the value backing national bank-issued notes. Today, the regulator applies the same rigorous scrutiny to the collateral backing payment stablecoins.