Blockchain Association Statement on Office of the Comptroller of the Currency’s Final Rule Implementing the GENIUS Act

Washington, D.C. (October 21, 2026) – The following statement is attributed to Blockchain Association Chief Policy Officer Lindsay Fraser following the Office of the Comptroller of the Currency’s final rule implementing the GENIUS Act:

“We applaud Comptroller Gould and the OCC for delivering a final rule that marks a major milestone for American leadership in digital assets. The OCC has taken the framework Congress built and given issuers clear, workable standards for reserves, redemption, and risk management. That clarity will bring more innovation, more competition, and more dollar-backed payments onshore under strong federal oversight. 

We are especially grateful that the OCC listened to the industry. The final rule reflects several changes our members urged during the comment period, and we commend Secretary Bessent and the OCC staff for their careful work and close engagement with the public.”

The final rule reflects Blockchain Association member recommendations in several key areas:

• Removal of the yield rebuttable presumption. The OCC eliminated the proposed rebuttable presumption that would have presumed certain issuer arrangements with affiliates and related third parties as violations of the GENIUS Act's yield prohibition. As we explained in our comment letter, the presumption went beyond what Congress enacted in the GENIUS Act. Its removal brings the final rule more closely in line with the statutory text.
• No ban on multi-brand issuance. The OCC declined to prohibit issuers from offering multiple brands of payment stablecoins, preserving white-label and co-branded models that let more companies bring stablecoins to market.
• No automatic seven-day redemption delay. The OCC removed the proposed mandatory extension of the redemption period during periods of high redemption demand, which risked encouraging the stablecoin runs the provision was intended to prevent.
• No insured-deposit minimum. The final rule drops the proposed requirement that large issuers hold a portion of their reserves in insured deposits. The requirement would have added significant operational complexity and costs without commensurate prudential benefits.
• A workable redemption clock. The OCC clarified that the two-business-day deadline begins after required onboarding and legal checks and ends when the issuer fully processes and initiates payment, allowing issuers to meet compliance obligations without being penalized for downstream settlement delays.

Blockchain Association looks forward to continuing to work with the OCC as it supervises the new framework and develops further guidance.