The regulation bans direct yield payments to customers from stablecoin issuers, but the OCC said it would “evaluate” third-party yield arrangements on a case-by-case basis.

The Office of the Comptroller of the Currency issued its final rule to implement the Genius Act, the agency said Wednesday.

The rule, set to take effect Jan. 18, represents long-awaited guidance to banks and other OCC-regulated entities that hold, issue and move stablecoins.

Lawmakers, too, this year have attempted to codify a framework for digital-asset use. Early versions of that legislation – the Clarity Act – saw intense negotiations over whether crypto firms would be barred from issuing rewards for stablecoin balances that are “economically or functionally equivalent” to interest-bearing bank deposits.

Bank trade groups argued that if stablecoin issuers were to be allowed to use third-party arrangements to work around a ban, money could flow out of the banking system.

The Senate Banking Committee approved the Clarity Act in May, but the legislation ultimately failed as concerns arose over the potential for conflicts of interest. President Donald Trump, for example, reported $1.4 billion in income from his family’s crypto businesses in 2025, and Democrats in particular pushed for stronger language to prevent government officials from profiting off crypto rules as written.

The OCC’s final rule addresses the stablecoin-yield question but gives itself a wide berth.

Technically, the rule bans direct yield payments to customers from stablecoin issuers, but the OCC notes that it will evaluate yield or reward arrangements with third parties on a case-by-case basis.

Source link