Office of the Comptroller of the Currency
📋Role Under the GENIUS Act
The OCC is the primary federal regulator for payment stablecoin issuers. It approves and supervises federally-chartered issuers, registers foreign issuers, and has backup enforcement authority over state-qualified issuers in certain circumstances.
✅Key Responsibilities
- •Approve applications for federal qualified payment stablecoin issuers
- •Supervise and examine federal issuers for compliance
- •Register foreign payment stablecoin issuers
- •Coordinate with other federal and state regulators on rulemakings
- •Take enforcement action against violators
- •Backup enforcement for state-qualified issuers in unusual circumstances
📜Required Rulemakings
Issue regulations to implement the Act
Deadline: 1 year after enactment
Set standards for unusual circumstances enforcement against state issuers
Deadline: Per Section 13
Establish interoperability standards (with NIST consultation)
Deadline: As needed
Rules for foreign issuer registration and appeals
Deadline: Per Section 13
⏱️Key Deadlines After Enactment
Issue implementing regulations
Submit report to Congress on regulations
Bill References by Section
Click a section to expand and see all subsections where OCC is mentioned. Click any item to view the full bill text.
Implementation Timeline
At a Glance
- •134 references across 16 sections
- •14 required rulemakings
- •2 required reports