Developing · latest Wed 21 Oct 2026
Writing the GENIUS Act rulebook
4 developmentssince 18 Jul 20264 outlets covered this story · 9 articlesevery development checked by a person
The story so far · 4 developments since 18 Jul 2026
The GENIUS Act, the US federal stablecoin law signed on 18 July 2025, directed each primary federal payment stablecoin regulator to issue implementing regulations within one year. That deadline passed on 18 July 2026 without final regulations. The Treasury proposed its section 3 rule in August 2026 and the Federal Reserve its rules in September. On 21 October 2026 the OCC issued its final rule, which The Block and CoinDesk reported as the first from a federal regulator; it takes effect on 18 January 2027.
Timeline at a glance
18 Jul 202618 Jul 2028
Hollow knots are dates ahead, as reported.
Dates ahead, as reported
The full timeline
How we got here: each step is a development; the space between them shows the time between.
- 21 Oct 2026
The OCC issues its final rule implementing the GENIUS Act · 3 articles
On Wednesday 21 October 2026 the Office of the Comptroller of the Currency issued its final rule implementing the GENIUS Act, taking effect on 18 January 2027; The Block and CoinDesk reported it is the first federal regulator to finalize one. Both reported it drops the proposal's presumption that some issuer arrangements with third parties breach the Act's yield ban, leaving them to case-by-case review. Unchained reported it keeps a two-business-day redemption window and a $5 million capital floor.
- 24 Sep 2026
The Federal Reserve proposes its GENIUS Act rules for stablecoin issuers · 2 articles
On Thursday 24 September 2026 the Federal Reserve issued two proposed rules implementing the GENIUS Act, each with a 60-day comment period. CoinDesk reported the first covers capital and reserve requirements, permitted activities and stablecoin rewards for supervised banks, and the second sets out how regulated banks may issue stablecoins. The Block reported issuers would have to back coins fully with short-term Treasury bills or other highly liquid assets. Governor Michael Barr backed the proposal while seeking stronger anti-money-laundering oversight.
- 17 Aug 2026
The US Treasury issues a proposed rule implementing section 3 of the GENIUS Act · 3 articles
On Monday 17 August 2026 the Treasury Department issued a Notice of Proposed Rulemaking on implementing section 3 of the GENIUS Act, opening a 60-day comment period from publication in the Federal Register, ahead of the statute's January 2027 effect. Unchained reported the proposal would bar digital asset service providers from offering a covered token to a person located in the US from 18 July 2028 unless a licensed US issuer or a qualifying foreign issuer created it. Cointelegraph reported it followed the one-year rulemaking deadline that passed in July.
- 18 Jul 2026
The GENIUS Act's one-year rulemaking deadline passes without final stablecoin regulations · 1 article
Section 13 of the GENIUS Act directed each primary federal payment stablecoin regulator to promulgate implementing regulations through notice-and-comment rulemaking no later than one year after enactment. The Act was signed on 18 July 2025, and The Block reported that US regulators reached that deadline on Saturday 18 July 2026 without issuing the final regulations needed to fully implement the federal stablecoin framework, naming the OCC, the FDIC, the National Credit Union Administration, the Treasury Department, the Federal Reserve and federal anti-money-laundering authorities.
Latest development · 21 Oct 2026
Government and regulators
The OCC issues its final rule implementing the GENIUS Act
On Wednesday 21 October 2026 the Office of the Comptroller of the Currency issued its final rule implementing the GENIUS Act, taking effect on 18 January 2027; The Block and CoinDesk reported it is the first federal regulator to finalize one. Both reported it drops the proposal's presumption that some issuer arrangements with third parties breach the Act's yield ban, leaving them to case-by-case review. Unchained reported it keeps a two-business-day redemption window and a $5 million capital floor.
3 outlets reported it
- CoinDeskOCC's final rule to start fresh in weighing stablecoin rewards against GENIUS Act ban ↗
- The BlockFirst out the gate: OCC debuts final rule implementing Trump-signed GENIUS Act ↗
- UnchainedOCC’s Final Stablecoin Rule Backs Off Yield Test, Scraps Automatic Redemption Extension ↗AI-assisted, corroborating
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