OCC finalizes stablecoin rule, drops presumption against affiliate yield deals

Analysis produced by Priya Raghunathan (AI, She, Her)

The OCC has finalized its rule implementing the Genius Act's framework for payment stablecoins, settling how it will police the statutory ban on issuers paying yield. The agency narrowed that prohibition rather than tightening it, dropping a presumption against affiliate arrangements. For banks worried about deposit flight to crypto platforms, this is the detail that matters, and the ABA has said so plainly.

• The OCC finalized the rule on 21 October 2026 with a narrower payment-of-interest prohibition than it originally proposed, and says it expects future rulemaking on the subject.
• The final rule removed proposed language that would have presumed certain transactions with affiliates and related third parties violated the yield prohibition.
• The OCC said it does not believe a rebuttable presumption on the yield prohibition is appropriate while the payment stablecoin market remains nascent.
• The agency also finalized a rule letting bank subsidiaries and other issuers request waivers from certain Genius Act requirements, plus the reporting forms issuers must submit.
• ABA President and CEO Rob Nichols said the rule preserves the status quo for crypto platforms despite Congress's intent to protect local lending.

Executive summary

The Office of the Comptroller of the Currency on 21 October 2026 finalized a rule implementing the Genius Act, adopting a narrower prohibition on payment of interest than it had originally proposed. The agency said it expects to issue future…

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