The Office of the Comptroller of the Currency is targeting November to complete its regulations under the GENIUS Act after collecting feedback on its proposed framework for payment stablecoins.

The package is expected to address key parts of a stablecoin issuer’s operating model, including reserves, redemptions, supervision, custody and the application process for issuers. The agency could still revise elements of the proposal based on comments from crypto firms and other industry participants.

Proposal sets out the stablecoin operating cycle

The OCC released its GENIUS Act proposal on Feb. 25, and it was published in the Federal Register on March 2. The proposal lays out how a payment stablecoin would be regulated across its full life cycle.

According to the framework, that includes issuance, reserve management, redemption, supervisory oversight and the process for winding down an issuer. Separate sections also deal with capital backstops and other regulatory actions.

November target does not settle the full implementation clock

Although the OCC is working toward a November finish, that timing does not by itself start the law’s 120-day implementation period. The countdown depends on all relevant regulators issuing their final rules, not only the OCC.

The statute itself sets a Jan. 18, 2027 effective date. That means the OCC’s timeline appears designed to fit within the broader regulatory schedule, while still leaving the final trigger dependent on parallel action by other agencies.

Industry comments may still shape the final version

The OCC has indicated that the final rules could change after review of the comments submitted on the proposal. Those responses came from cryptocurrency companies and other market participants affected by the framework.

That leaves open the possibility of adjustments in how the agency handles practical issues such as reserve requirements, redemption procedures, custody expectations and supervisory treatment for issuers seeking to operate under the regime.

Broader crypto charter activity is also increasing

Alongside the GENIUS Act rulemaking, the OCC is reportedly seeing stronger interest in crypto-related charters. Multiple digital asset applications are said to be in process.

The agency has also granted conditional national trust bank approvals to several entities. The next confirmed step is the OCC’s planned move toward a final rule in November, while the broader start of the regime will still hinge on whether other regulators finalize their own rules on a matching timetable.

Source: crypto.news