OCC Sets November Deadline for GENIUS Act Stablecoin Regulation Completion

Key Highlights

• November 2026 emerges as the new deadline for OCC’s GENIUS Act stablecoin regulatory framework
• Comptroller Jonathan Gould revealed the timeline during Wyoming’s SALT conference
• Regulatory agencies failed to meet the July 2026 statutory implementation deadline
• The OCC has experienced an eightfold increase in digital asset approval requests
• Implementation of the GENIUS Act framework begins January 18, 2027

The Office of the Comptroller of the Currency has established November as its target date for completing GENIUS Act stablecoin regulations, Comptroller Jonathan Gould confirmed.

Speaking at Wyoming’s SALT conference on August 19, Gould revealed that the agency has finished analyzing public feedback submitted in response to its February regulatory proposal and intends to incorporate stakeholder input into the final framework.

“We are very intent on moving quickly and getting a final rule out by November so that we will be able to start processing applications within the new year,” Gould said.

Federal Regulators Fail to Meet July Target

President Donald Trump enacted the GENIUS Act in July 2025, establishing America’s inaugural federal regulatory structure dedicated to payment stablecoins.

The legislation mandated that federal authorities publish implementing regulations within twelve months. However, July 18, 2026 came and went without the OCC, Federal Deposit Insurance Corporation, Federal Reserve, or National Credit Union Administration finalizing their complete regulatory packages.

When the statutory deadline arrived, ten proposed regulatory actions remained incomplete. Financial regulators have yet to establish a unified completion schedule for the outstanding requirements.

The GENIUS Act regulatory structure becomes operative on January 18, 2027, or 120 days following the publication of final rules by primary regulators—whichever occurs earlier.

Scope of OCC’s Regulatory Framework

The initial OCC proposal spans 376 pages and addresses every phase of payment stablecoin operations, encompassing token creation, reserve management, redemption mechanisms, asset custody, regulatory oversight, and issuer wind-down procedures.

Entities issuing stablecoins under OCC jurisdiction must maintain qualifying reserve holdings and guarantee redemption at par value. The proposed framework establishes standards for liquidity maintenance, independent audits, risk management protocols, and supervisory reviews.

The application framework targets nonbank entities pursuing federal qualified payment stablecoin issuer designation. Additional sections address banking subsidiaries, state-licensed issuers, and international entities seeking US market access.

Surge in Digital Asset Applications

Gould noted that the OCC’s digital asset application processing volume has multiplied eight times compared to levels during the Biden administration.

Over the past eighteen months, the OCC has received 40 applications for new bank charters. The agency’s public licensing database currently shows 13 pending digital asset-related applications, including submissions from Payward, Revolut, and EDX Trust.

Multiple cryptocurrency firms have secured conditional national trust bank authorization since December 2025, with Circle, Ripple, Paxos, and BitGo among the recipients.

Most recently on August 14, the OCC granted conditional approval to World Liberty Financial for establishing World Liberty Trust Company, which will issue and administer the USD1 stablecoin.

Gould emphasized the OCC’s commitment to implementing existing legislation, identifying the GENIUS Act as the agency’s immediate priority rather than the more comprehensive yet stagnant Clarity Act.

Additionally, on August 17, the Treasury Department introduced complementary regulations defining when stablecoins qualify as being issued or distributed within United States jurisdiction.