OCC issues GENIUS Act Final Rule, what does it mean for banks?
On October 21, 2026, the OCC issued GENIUS Act regulations: Final Rule. This Final Rule addressed standards and requirements related to activities, reserve assets, redemption, risk management, audits, reports, supervision, custody, applications, registrations, revocation, recission, and capital and operational backstop. The Final Rule stopped short of preventing stablecoin issuers from providing yield, instead the OCC will examine situations on a case-by-case basis. This did not make the banking lobby happy, as the ABA and ICBA pushed back. It’s not exactly a win for the crypto community…
The skinny
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