The US Approves First Stablecoin Regulations

The US has approved the first stablecoin regulations under the GENIUS Act. The Office of the Comptroller of the Currency (OCC) has completed the development of its part of the requirements.

Rejection of reward restrictions

The OCC abandoned previously proposed restrictions on certain payout schemes through crypto exchanges and third-party services. Each case will be considered individually.

Relaxation of reserve control

Restrictions on issuers' management of reserve assets have been relaxed. However, stablecoins must still be backed at a 1:1 ratio.

Licensing and control requirements

New requirements for issuers, risk management, asset custody, and stablecoin redemption have been established.

Effective date and next steps

The new rules will enter into force on January 18, 2027. The Federal Reserve, FDIC, and the US Department of the Treasury continue to develop their own requirements.