The national bank regulator has issued a final rule implementing the GENIUS Act, the federal framework for payment stablecoins signed by President Trump. It is reportedly the first US federal agency to finalize rules under the law.

The rule sets requirements for permitted payment stablecoin issuers and foreign issuers under OCC jurisdiction, covering reserve backing, redemption and risk management, plus custody activities at OCC-supervised entities. Bank Secrecy Act, anti-money laundering and OFAC sanctions rules will follow in a separate rulemaking with the Treasury.

The final rule and the GENIUS Act take effect on January 18, 2027.

The OCC received hundreds of comments from crypto firms, community banks, trade groups and academics. It will announce separately when it starts accepting applications and waiver requests from prospective issuers.