OCC Proposes Stablecoin Framework Under GENIUS Act, Seeks Public Comment

Finance

OCC Proposes Stablecoin Framework Under GENIUS Act, Seeks Public Comment

The U.S. Office of the Comptroller of the Currency issued a proposed rule to implement the GENIUS Act, outlining a regulatory framework for payment stablecoin issuers under its supervision and opening the proposal for public comment.

Key Takeaways:

• The OCC released a proposed rule under the GENIUS Act.
• The framework covers permitted and certain foreign payment stablecoin issuers.
• Custody activities tied to stablecoins are included in the proposal.
• BSA/AML and OFAC provisions are not included and will be addressed separately with Treasury.

The development was highlighted by journalist Eleanor Terrett via X.

????NEW: The @USOCC issued a proposed rule to implement the GENIUS Act today and is seeking public comment.

The framework would establish ground rules for permitted and foreign payment stablecoin issuers under OCC supervision, along with certain custody activities.

Comptroller… https://t.co/g0S4rurd4n

— Eleanor Terrett (@EleanorTerrett) February 26, 2026

The draft framework would establish operating standards for both permitted U.S. stablecoin issuers and certain foreign payment stablecoin entities overseen by the OCC. It also addresses custody activities related to stablecoin reserves and related services.

Comptroller Jonathan Gould said the objective is to create a regulatory environment in which stablecoins can “flourish in a safe and sound manner,” signaling a balance between financial innovation and prudential oversight.

Scope and Limitations

Notably absent from the proposal are Bank Secrecy Act (BSA), anti-money laundering (AML), and Office of Foreign Assets Control (OFAC) compliance provisions. The OCC indicated those elements will be addressed separately in coordination with the U.S. Treasury Department.

By separating prudential supervision from sanctions and financial crime compliance frameworks, regulators appear to be sequencing the rulemaking process rather than consolidating it into a single directive.

The proposed rule underscores growing federal efforts to formalize stablecoins as a regulated payment instrument within the U.S. banking system. If adopted, the framework could provide greater clarity for banks and fintech firms seeking to issue or custody dollar-pegged digital tokens under a national charter.

Public comments will inform the final rulemaking process, which could shape how payment stablecoins integrate into the broader financial infrastructure.