According to Cointelegraph, the Office of the Comptroller of the Currency has finalized a rule covering payment stablecoin issuance and certain custody activities under the GENIUS Act framework. The rule is scheduled to take effect in mid-January.
The finalization marks the completion of regulatory guidance for entities that issue payment stablecoins and engage in designated custody functions. The OCC’s action implements provisions within the GENIUS Act, which aims to provide a tailored supervisory approach for stablecoin issuers while ensuring appropriate oversight of custody arrangements.
The rule distinguishes between issuance activities related to payment stablecoins and broader custody services; only those custody activities falling under the regulatory scope are included. No additional enforcement actions or timelines beyond the stated effective date are mentioned.
Industry participants will need to align their practices with the finalized standards ahead of the mid-January implementation period. The OCC did not specify technical requirements, supervisory thresholds, or exemption criteria in the summary provided.
