OCC unveils GENIUS Act rulebook for U.S. payment stablecoins
OCC’s GENIUS Act rule drafts 100%‑reserved payment stablecoin regime, tightening oversight. Summary Draft rule covers full payment stablecoin lifecycle: issuance, reserves, supervision, and wind-down procedures. Only authorized GENIUS-compliant issuers may serve U.S. users, with 1:1 reserve, capital, liquidity, audit, and custody standards. OCC and NCUA gain direct authority over bank, credit union, and some foreign
