OCC waiver rule puts active stablecoin issuers on notice
Summary
The OCC issued guidance for existing US payment stablecoin issuers seeking to continue operating when the GENIUS Act framework takes effect on Jan. 18, 2027. It generally expects to waive prior approval for current US issuers that submit substantially complete applications by that date, but may deny requests and will assess each on its merits. Waivers can last up to 12 months, though the OCC expects to limit them to the time justified. Filing an application alone does not authorize continued issuance: issuers need an approved waiver. Application intake remained closed pending OMB approval, with the OCC to announce when it opens.
