GENIUS Act implementation: the regulatory timeline for payment stablecoins

Earliest plausible effective date if final rules land at the Jul 18, 2026 deadline

effective dateanalysissource

SCENARIO, not a scheduled date: 120 days after a hypothetical 2026-07-18 final-rule publication. Derived from the statutory formula in 12 U.S.C. 5901 note.

GENIUS Act statutory effective date (backstop)

effective dateread from the documentsource

Effective Jan 18, 2027 OR 120 days after primary federal regulators issue final implementing regulations, if earlier (12 U.S.C. 5901 note, quoted in FDIC NPRM).

Digital asset service providers may only offer/sell PPSI-issued payment stablecoins to US persons

deadlineTreasuryread from the documentsource

3-year transition ends; Treasury may add de minimis safe harbors.

Joint CIP NPRM comments close

comment deadlineFinCEN/OCC/Fed/FDIC/NCUAFR Doc. 2026-12460FINCEN-2026-0101read from the documentsource

OCC PRA reporting-forms comment window closes (~60 days from Jun 12)

comment deadlineOCCFR Doc. 2026-11856reported, no document yetsource

Exact close date not stated in the FR metadata pulled 2026-07-05 — approximate; verify in the notice text.

FDIC BSA/sanctions NPRM comments close

comment deadlineFDICFR Doc. 2026-11342FDIC-2026-0991read from the documentsource

OCC BSA/sanctions NPRM comments close

comment deadlineOCCFR Doc. 2026-12692OCC-2026-0463read from the documentsource

Reported due date for initial state-regime certifications to the Stablecoin Certification Review Committee

certificationTreasury/SCRCreported, no document yetsource

Single secondary source (Kansas Legislative Research). Verify against GENIUS §4(c) before promoting to verified. No state certified as of 2026-07-05.

Statutory deadline for primary federal regulators to issue implementing regulations

deadlineOCC/Fed/FDIC/NCUA/Treasuryread from the documentsource

Per NCUA NPRM: 'The GENIUS Act also requires the NCUA to issue implementing regulations by July 18th, 2026.' No final rules published as of 2026-07-05.

NCUA supplemental NPRM comments close

comment deadlineNCUAFR Doc. 2026-09915NCUA-2026-1024read from the documentsource

Open USD ('OUSD') consortium announced: Stripe, Visa, Mastercard, BNY, U.S. Bank, Coinbase, Adyen + ~140 firms

market eventreported, no document yetsource

Pre-launch.

OCC NPRM: PPSI AML/CFT and sanctions compliance risk management

rulemakingOCC91 FR 37840FR Doc. 2026-12692OCC-2026-0463read from the documentsource

Joint NPRM (FinCEN/OCC/Fed/FDIC/NCUA): PPSI customer identification program

rulemakingFinCEN/OCC/Fed/FDIC/NCUA91 FR 37234FR Doc. 2026-12460FINCEN-2026-0101read from the documentsource

Only rulemaking the Federal Reserve has joined; the Fed has issued NO standalone prudential NPRM as of 2026-07-05.

OCC PRA notice: weekly + quarterly reporting forms for PPSIs and foreign issuers (OMB 1557-NEW)

rulemakingOCCFR Doc. 2026-11856read from the documentsource

See also OCC Bulletin 2026-24.

NYDFS proposes GENIUS-aligned stablecoin regulation (first state to formally propose)

rulemakingNYDFSread from the documentsource

Retains 1:1 backing/redeemability/independent audits; adds custodian concentration caps. Final reg targeted to take effect with GENIUS; 1-year transition for existing NY licensees.

FDIC NPRM: BSA and sanctions compliance standards for FDIC-supervised PPSIs

rulemakingFDIC91 FR 34171FR Doc. 2026-11342FDIC-2026-0991read from the documentsource

NCUA supplemental NPRM: issuance standards, share insurance, tokenized shares

rulemakingNCUA91 FR 28956FR Doc. 2026-09915NCUA-2026-1024read from the documentsource

FinCEN+OFAC joint NPRM: PPSI AML/CFT and sanctions compliance programs

rulemakingFinCEN/OFAC91 FR 18582FR Doc. 2026-06963FINCEN-2026-0100read from the documentsource

Comments closed Jun 9, 2026.

FDIC NPRM: prudential standards, deposit insurance for reserves, tokenized deposits

rulemakingFDIC91 FR 18534FR Doc. 2026-06974FDIC-2026-0696read from the documentsource

Comments closed Jun 9, 2026.

Treasury NPRM: broad-based principles for 'substantially similar' state regimes (GENIUS §4(c))

rulemakingTreasury91 FR 16844FR Doc. 2026-06489TREAS-DO-2026-0232read from the documentsource

Comments closed Jun 2, 2026; 56 comments. Distinguishes uniform vs state-calibrated requirements; $10B waterfall context.

Coinbase receives conditional OCC approval for a national trust company (custody/fiduciary — NOT stablecoin issuance)

decisionOCCreported, no document yetsource

OCC NPRM: main prudential rule implementing the GENIUS Act (new 12 CFR 15)

rulemakingOCC91 FR 10202FR Doc. 2026-04089OCC-2025-0372read from the documentsource

Comments closed May 1, 2026; 257,599 comments (mass campaign; docket logs meetings w/ Circle, Stripe, Fidelity, Paradigm Tempo, Agora).

Crypto.com receives conditional OCC approval for a national trust charter

decisionOCCreported, no document yetsource

Bridge (Stripe) wins conditional OCC approval for a national trust bank charter

decisionOCCreported, no document yetsource

Press date ~Feb 12, 2026; OCC decision letter not yet located.

NCUA NPRM: investments in and licensing of permitted payment stablecoin issuers

rulemakingNCUA91 FR 6531FR Doc. 2026-02868NCUA-2025-1335read from the documentsource

Comments closed Apr 13, 2026; 46 comments.

Tether launches USAT via Anchorage Digital Bank, N.A. (federally chartered issuer)

market eventread from the documentsource

FDIC NPRM: approval requirements for stablecoin issuance by IDI subsidiaries

rulemakingFDIC90 FR 59409FR Doc. 2025-23510FDIC-2025-1110read from the documentsource

Comments closed May 18, 2026 (extended from Feb 17).

OCC conditionally approves 5 national trust charters: Circle (First National Digital Currency Bank), Ripple, BitGo, Fidelity Digital Assets, Paxos

decisionOCCread from the documentsource

Treasury ANPRM: GENIUS Act Implementation

rulemakingTreasury90 FR 45159FR Doc. 2025-18226TREAS-DO-2025-0037read from the documentsource

Comments closed Nov 4, 2025 (extended); 396 comments.

Treasury RFC: innovative methods to detect illicit activity involving digital assets

rulemakingTreasuryFR Doc. 2025-15697read from the documentsource

GENIUS-mandated RFC; comments closed.

GENIUS Act signed into law (Pub. L. 119-27, 12 U.S.C. 5901 et seq.)

statute139 Stat. 419read from the documentsource