US OCC First to Finalize GENIUS Act Stablecoin Rules, Adjusts Third-Party Reward Provisions

BlockBeats news, October 21: The U.S. Office of the Comptroller of the Currency (OCC) published final rules implementing the GENIUS Act, becoming the first regulator to finalize stablecoin implementation rules under the Act. The rules will take effect on January 18, 2027, providing an access path for banks and non-bank enterprises to engage in payment stablecoin business, and establishing relevant standards for foreign stablecoin issuers and asset custody.

Regarding stablecoin rewards, the final rules removed the presumption clause in the draft for comment that certain commercial arrangements between issuers and third parties may constitute a violation, but the statutory prohibition on issuers directly paying interest to stablecoin holders still applies.

Regulatory officials said that the relationship between issuers and third parties will be reviewed on a case-by-case basis to ensure that relevant arrangements do not violate the statutory prohibition. The OCC still has the authority to enforce against acts that evade the Act, and if clear evasion is found, it will take corresponding action.