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US sets final stablecoin rules: reserves, redemptions and no yield

The US bank regulator OCC has finalized its rules for stablecoin issuers, and they take effect on 18 January 2027.

الحدث: 21 أكتوبر 2026
المصدر الأساسي: 21 أكتوبر 2026
نُشر هنا: 21 أكتوبر 2026 في 01:20 م UTC
اقرأ: 2 دقيقة

ماذا حدث

On 21 October the OCC, the US national bank regulator, issued its final rule under the GENIUS Act on payment stablecoins. It covers reserves, redemptions, risk management, custody and capital. The rule and the law take effect on 18 January 2027.

لماذا يهمك

Stablecoins like USDC are dollars inside crypto, and most trading runs through them. Banks and firms in the US now have clear rules for issuing them. Paying holders yield just for holding the coins is still banned.

ماذا تتحقق منه وتراقبه

The OCC will say separately when it starts taking issuer applications. Anti-money laundering and sanctions rules come later, together with Treasury. Watch which banks apply first.

OCC release

What the law is. The GENIUS Act was signed in July 2025. It lets only permitted issuers issue payment stablecoins in the US. Crypto platforms cannot sell Americans coins from other issuers, apart from foreign issuers that meet certain requirements.

What the OCC did. The regulator issued a final rule for the firms it oversees: national banks and their subsidiaries, federal savings associations, federal branches of foreign banks, nonbank firms with federal approval and some state-qualified issuers. Most requirements sit in a new section of its rules: reserves, redemption, risk, audits and reports, custody, applications, supervision of foreign issuers and a capital backstop.

Reserves and redemptions. According to Cointelegraph, an issuer's reserves must be worth at least as much as its coins in circulation, and redemption requests generally have to be processed within two business days. The ban on paying holders interest just for holding a coin stays. The OCC did drop a proposed presumption that some arrangements with affiliates automatically break that ban.

What is still missing. Anti-money laundering and sanctions rules are not in this rule and will be written separately with Treasury. The OCC will announce separately when applications open. The proposal drew hundreds of comments from crypto firms, banks and academics.

حقائق مؤكدة

  • On 21 October 2026 the OCC announced a final rule implementing the GENIUS Act on payment stablecoins.[1][2]
  • The rule and the GENIUS Act take effect on 18 January 2027.[1][2]
  • It applies to national banks, federal savings associations, federal branches, their subsidiaries, foreign issuers and federally approved nonbank issuers.[2]
  • Requirements cover reserves, redemption, risk management, audits and reporting, custody, applications and a capital backstop.[2][4]
  • Anti-money laundering and sanctions rules will come separately, in coordination with the US Treasury.[1][2]
  • The OCC will announce separately when it starts accepting issuer applications.[1]
  • The GENIUS Act was enacted on 18 July 2025.[2]
  • Reserves must be worth at least the coins outstanding, and redemptions generally processed within two business days.[3]
  • The ban on paying holders yield solely for holding a stablecoin stays.[3]

التبعات

  • مؤكدBanks and firms in the US now have a full set of rules for issuing stablecoins.
  • مؤكدUS issuers will not pay yield just for holding dollar stablecoins.
  • قراءتناBig US banks may launch their own stablecoins after January.

لا يزال مجهولًا

  • When the OCC will start taking applications.
  • What the anti-money laundering and sanctions rules will say.
  • Who will apply first.

من يتأثر

USA. Anyone who holds USDC, USDT or other stablecoins, or pays with them

المصادر

  1. Office of the Comptroller of the Currency: OCC Advances U.S. Digital Asset Leadership with Final Rule to Implement GENIUS Act 21 أكتوبر 2026 · رسمي
  2. Office of the Comptroller of the Currency: OCC Bulletin 2026-50: GENIUS Act Regulations: Final Rule 21 أكتوبر 2026 · رسمي
  3. Cointelegraph: OCC finalizes GENIUS Act rules for stablecoin issuers and custody 21 أكتوبر 2026 · إعلام
  4. Decrypt: OCC Finalizes GENIUS Act Stablecoin Rules Ahead of January Deadline 21 أكتوبر 2026 · إعلام
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الغلاف: رسم Freekonomist، صورة رمزية، لا صورة للحدث. هذا شرح إخباري، لا نصيحة مالية.

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