OCC to Finalize Stablecoin Rules by November, Start 40-Application Crypto Pipeline in January
Updated
Updated · Yahoo Finance · Aug 20
OCC to Finalize Stablecoin Rules by November, Start 40-Application Crypto Pipeline in January
3 articles · Updated · Yahoo Finance · Aug 20
Summary
Jonathan Gould said the OCC will lock in federal stablecoin rules by November and begin processing crypto license applications in January, speeding ahead as Senate action on broader crypto legislation remains stalled.
The rulemaking implements the GENIUS Act passed in July 2025, creating a federal framework for dollar-pegged tokens backed one-to-one by cash and short-term Treasurys.
Gould said the OCC plans changes in the final rule after industry feedback; TD Cowen said the framework is critical for payment stablecoin issuance and could also benefit banks.
Over the past 18 months, the OCC has received 40 new bank charter applications, more than half tied to digital-asset activity—an eightfold increase from the prior administration.
At a White House meeting with about two dozen crypto executives and regulators, Trump separately pressed Congress to break the Clarity Act deadlock over ethics language barring officials from profiting from digital assets.