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▲ Stablecoin ©Godasol
The United States is accelerating the institutionalization of digital assets by finalizing its federal regulatory framework for stablecoin issuance and asset custody. US Treasury Secretary Scott Bessent hailed the GENIUS Act as a historic turning point for US finance, emphasizing that the new regulatory framework will foster private innovation and competition and strengthen US leadership in the digital asset sector.
According to crypto media outlet Cryptopotato on October 24 (local time), the US Office of the Comptroller of the Currency (OCC) has finalized the regulations for the implementation of the GENIUS Act. These regulations apply to authorized payment stablecoin issuers, foreign issuers under OCC jurisdiction, and certain asset custody services of supervised institutions. Key regulatory items include securing reserve backing, redemption obligations, and risk management requirements.
Secretary Bessent described the GENIUS Act as a "Watershed Moment for US Finance." He explained that just as President Abraham Lincoln's National Currency Act in 1863 established a nationwide regulatory framework for bank-issued currency, the GENIUS Act builds a federal institutional foundation for payment stablecoins in the digital age. He added that the OCC's final regulations will be a clear and practical foundation to support private innovation and competition, and US leadership in the digital asset sector.
The final regulations were developed after reviewing hundreds of comments received from cryptocurrency companies, regional banks, industry associations, and academia. However, regulations related to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and sanctions from the Office of Foreign Assets Control (OFAC) were excluded. These areas will be addressed through separate rulemaking procedures in cooperation with the Treasury Department. The OCC plans to announce the schedule for accepting stablecoin issuance license applications and exemption requests separately in the future and will adjust its supervisory methods according to market developments.
The GENIUS Act was enacted in July 2025, but due to the challenge of multiple federal agencies needing to establish a new supervisory framework, it missed its original regulation finalization deadline of July 18, 2026. The Federal Reserve (Fed) also proposed two regulatory plans in September to apply to supervised banks and stablecoin issuers. The GENIUS Act and the OCC's final regulations are scheduled to take effect on January 18, 2027. As the US stablecoin regulatory framework takes shape, subsequent regulations related to anti-money laundering and sanctions, along with the issuance license procedures, are emerging as key areas of interest.
*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*
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