US Treasury Secretary Scott Bessent has described new federal rules for payment stablecoins as a major step in the development of American finance, comparing the legislation behind them with banking reforms adopted during Abraham Lincoln’s presidency.
A national framework for digital dollars
The comments followed the Office of the Comptroller of the Currency’s final rule implementing the GENIUS Act. In a Wednesday post on X, Bessent called the legislation a “watershed moment in American finance” and said the OCC’s rule could promote private-sector innovation, competition and US leadership in digital assets.
Bessent linked the GENIUS Act to the National Currency Act of 1863, which created a federal framework allowing nationally chartered banks to issue currency. His comparison was based on the two laws’ shared role in establishing national rules for forms of money: bank-issued currency in the 19th century and payment stablecoins in the digital era.
The GENIUS Act was signed into law in 2025 and established a federal regulatory framework for payment stablecoins. Stablecoins are digital tokens designed to maintain a stable value, with dollar-denominated versions increasingly used for payments and money transfers.
What the OCC rule covers
According to Cointelegraph, the OCC’s final regulations address how the GENIUS Act will apply to issuers under the agency’s supervision. The rules cover reserve requirements, redemption procedures and risk-management obligations, along with related services.
The framework applies to national banks, federal savings associations, federal branches of foreign banks and nonbank companies seeking federal approval to issue payment stablecoins. Certain foreign payment stablecoin issuers are also included.
The regulations are scheduled to take effect on Jan. 18, 2027. From that date, companies generally will need regulatory approval under the GENIUS Act to issue payment stablecoins in the United States. Issuing such tokens without the required authorization could result in penalties.
Jonathan Gould, the comptroller of the currency, called the regulations a “clear, practical framework for payment stablecoin innovation.” The rules arrive as dollar-linked stablecoins gain traction in payments and money transfers, although the overall supply growth of stablecoins has stalled.
Moneyiar market picture
Moneyiar market data recorded at the stated times on Oct. 22, 2026, showed declines across three of the four listed assets:
- STABLE was priced at $0.0256071983, down 2.45% over 24 hours and 6.11% over seven days, as of 23:19 +03:30.
- Ethereum Name Service (ENS) stood at $5.4935410999, down 4.81% in 24 hours and 4.68% over seven days, as of 23:18 +03:30.
- Genius Terminal (GENIUS) traded at $0.3001015235, down 3.22% in 24 hours and 0.13% over seven days, as of 23:19 +03:30.
- Sentient (SENT) was $0.0216435541, down 4.98% over 24 hours but up 3.2% over seven days, as of 23:19 +03:30.
These market prices refer to the listed cryptoassets and do not represent the regulatory status of payment stablecoin issuers under the OCC rule.
