Stablecoin Interest, Yield, and Rewards: OCC Proposes Sweeping Regulations Under the GENIUS Act

The OCC issued a notice of proposed rulemaking (NPRM) last week to implement the GENIUS Act, enacted on July 18, 2025. The NPRM is significant, as it creates a new Part 15 to the OCC’s regulations addressing payment stablecoins, including permissible activities, reserves, capital requirements, application processes, disclosures, redemptions, and more. It requests public consideration and input on more than 200 questions, set out over nearly 300 pages of commentary.... By: Perkins Coie