OCC publishes stablecoin application forms as GENIUS Act final rule lands
The OCC has sent OMB a new information collection carrying the application forms that stablecoin issuers must file under the GENIUS Act, published alongside the related final rule. It sets out exactly what domestic permitted payment stablecoin issuers and foreign issuers must submit, the factors the OCC will weigh, and a burden estimate of 4,915 hours across 40 expected respondents.
- Comments on the new information collection (OMB control number 1557-NEW) are due by November 23, 2026, with the collection already sent to OMB for 30-day review.
- The final rule implementing the GENIUS Act for OCC-jurisdiction stablecoin issuers is published elsewhere in the same Federal Register issue; the Act was enacted July 18, 2025 and takes effect January 18, 2026.
- Permitted payment stablecoin issuer applications under 12 CFR 15.30 must include a business plan, reserve, redemption and risk management policies and Interagency Biographical and Financial Reports for directors, officers and principal shareholders.
- Foreign issuer registration under 12 CFR 15.32 requires a Treasury determination of a comparable home regime under section 18, consent to US jurisdiction and certification of no material misrepresentations.
- The OCC estimates 40 respondents, 40 annual responses and 4,915 total annual burden hours, a figure one commenter said materially understates the work required.