OCC Director Jonathan Gould: Final Rules for GENIUS Act to be Released by End of October
U.S. Office of the Comptroller of the Currency (OCC) Director Jonathan Gould stated that the final rules for the implementation of the GENIUS Act are expected to be released soon, by the end of October.
Gould made this statement at the "Building a New Digital Economy" event hosted by the Milken Institute, which coincided with DC Fintech Week.
Crypto journalist Eleanor Terrett disclosed this statement. The timeline for the release of the rules has been clearly pointed to by the end of October.
The implementation rules for the GENIUS Act are being advanced by the OCC. The final rules will clarify the specific compliance requirements and execution standards.
This statement was made during a public event held during DC Fintech Week. The timeline for advancing the rules has been publicly provided.
This statement comes against the backdrop of U.S. legislation related to stablecoins entering the implementation phase. The rollout of the rules will affect the compliance pathways for issuers and custodians, requiring adjustments to funding and business arrangements according to the final standards. Entities that have already made preparations will gain clearer operational space, while institutions waiting for details will face compressed preparation time.
Source: Public Information
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Since taking office, Jonathan Gould has continued to advance the pace of implementing rules related to banks and digital assets at the OCC. The OCC has previously issued several explanatory documents and proposed rules regarding stablecoin issuance, custody, and bank participation in crypto business. This time, the timeline for the release of the final rules for the GENIUS Act has been clearly pointed to by the end of October, continuing its path of accelerating the clarification of regulatory boundaries.
The rule-making resources are primarily focused on specific standards for stablecoin issuance, reserve management, and banking interfaces. Through the final rules, the OCC aims to convert legislative requirements into executable compliance thresholds, motivated by the need to provide regulated entities with clear operational guidelines while restricting non-compliant entities from entering related banking activities.
A similar pace can be seen in the SEC's process of accelerating adjustments in product structures after providing a clear timeline for specific securities rules, as well as the CFTC's phased advancement of derivatives-related rules. The GENIUS Act is currently in the implementation detail phase following legislative approval, shifting focus from a principled framework to specific execution standards.
Essentially, this represents a regulatory change. Activities related to stablecoins are moving from a vague area of multi-regulatory oversight into a clear regulatory framework led by the OCC. Mechanically, the final rules will standardize issuance qualifications, reserve requirements, and banking interfaces, allowing compliant institutions to conduct business under defined standards, while non-compliant entities will be excluded from the regulated channels, thereby altering the access structure for stablecoin issuance and custody.
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- The market adjusts according to the timeline before the final rules are released.
- Regulatory details convert vague areas into access thresholds.
- The timeline itself serves as a compliance signal.