TLDR
- The OCC has set a November target to finalize its GENIUS Act stablecoin regulations
- OCC Comptroller Jonathan Gould made the announcement at the Wyoming SALT conference
- Federal agencies missed the July 2026 statutory deadline for implementing GENIUS Act rules
- Digital asset approval activity at the OCC has risen eightfold under the current administration
- The GENIUS Act framework is set to take effect January 18, 2027
The Office of the Comptroller of the Currency wants its main GENIUS Act stablecoin rules finalized by November, according to Comptroller Jonathan Gould.
🚨NEW: On stage at @SALTConference in Wyoming, @USComptroller says digital asset chartering activity has increased eightfold since the Biden administration, calling the previous administration’s effort to eliminate risk “extremely shortsighted.”
He says the OCC expects to…
— Eleanor Terrett (@EleanorTerrett) August 19, 2026
Gould made the announcement at the SALT conference in Wyoming on August 19. He said the agency reviewed public comments on its February proposal and plans to adjust the final rules based on that feedback.
“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.
Agencies Missed the July Deadline
The GENIUS Act was signed into law by President Donald Trump in July 2025. It created the first federal framework in the US specifically for payment stablecoins.
Federal regulators were instructed to issue implementing rules within one year. That deadline passed on July 18, 2026, without the OCC, Federal Deposit Insurance Corporation, Federal Reserve, or National Credit Union Administration completing all required rules.
Ten proposed rulemakings were still pending when the deadline expired. Regulators have not announced a shared date for completing the remaining measures.
The GENIUS Act framework is scheduled to take effect on January 18, 2027, or 120 days after primary regulators issue final rules, whichever comes first.
What the OCC Rules Cover
The OCC’s original proposal runs 376 pages. It covers the full operating cycle of a payment stablecoin, including issuance, reserves, redemptions, custody, supervision, and issuer closures.
Stablecoin issuers under OCC oversight would need to hold eligible reserve assets and redeem stablecoins at face value. The draft also includes requirements for liquidity, audits, risk controls, and regulatory examinations.
Application rules apply to nonbank companies seeking federal qualified payment stablecoin issuer status. Separate provisions cover bank subsidiaries, state-qualified issuers, and foreign issuers seeking access to US customers.
Rising Applications
Gould also said digital asset approval activity at the OCC has increased eightfold compared to the Biden administration.
The OCC received 40 de novo bank applications in the past 18 months. Its public licensing tracker recently listed 13 pending digital asset applications, including from Payward, Revolut, and EDX Trust.
Several crypto companies have received conditional national trust bank approvals since December 2025, including Circle, Ripple, Paxos, and BitGo.
On August 14, the OCC conditionally approved World Liberty Financial to establish World Liberty Trust Company, which would issue and manage the USD1 stablecoin.
Gould said the OCC is focused on executing what is already law, pointing to the GENIUS Act as the agency’s current priority over the broader but stalled Clarity Act.
The Treasury Department also proposed related rules on August 17 covering when stablecoins are considered issued or sold in the United States.
