US Comptroller Finalizes Stablecoin Rules Under GENIUS Act

what happened

The Office of the Comptroller of the Currency has completed its rulebook for stablecoin issuers under the GENIUS Act. Treasury Secretary Scott Bessent described the law as a turning point for American finance and compared it with the National Currency Act of 1863, which Abraham Lincoln signed to create a national framework for bank-issued money. He argued the new rules build on that legacy and give private firms a clear base to innovate and compete in digital assets.

The regulation covers permitted and foreign payment stablecoin issuers overseen by the agency, along with certain custody activities of the banks it supervises. Anti-money laundering and sanctions provisions were left out and will come in a separate rulemaking with the Treasury. Both the rule and the act take effect on January 18, 2027. Stocktwits reports the agency received hundreds of comment letters from crypto firms, community banks, trade bodies and academics.

why it matters

For markets, the move gives stablecoins a federal rulebook, while the broader CLARITY Act remains stalled in the Senate, with stablecoin yield a key sticking point. Coinbase (COIN) and Circle (CRCL) were both trading higher in the morning session, though the rule itself does not set the direction of their shares.

market impact

Coinbase, Circle, stablecoin issuers: clearer federal rules support the sector; broader crypto bill still stalled

tags

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