FOR IMMEDIATE RELEASE: October 21, 2026

CONTACT: Jarice Thompson, [email protected]

OCC Finalizes Weak Stablecoin Rule, Caves to Crypto Industry Demands

WASHINGTON, D.C. –  Today, the Office of the Comptroller of the Currency (OCC) released its final rule implementing portions of the GENIUS Act—the crypto industry-drafted legislation passed last year that established a weak regulatory regime for crypto assets known as stablecoins. The OCC’s proposed rule would have posed significant risks to customers and the economy. The rule lacked sufficient reserve backing for stablecoins, made it unnecessarily difficult for people to redeem stablecoins on demand, and failed to safeguard financial stability….