The OCC proposed new information reporting forms that must be completed by permitted payment stablecoin issuers under the GENIUS Act.
Details: The OCC published a revised set of the weekly and quarterly reporting forms that were first proposed in June. Comments on the new forms are due within 30 days of publication in the Federal Register.
Application Guidance: The OCC also issued a bulletin clarifying the process for filing applications and requesting waivers under GENIUS Act that said:
-
Payment stablecoin issuers must comply with the GENIUS Act beginning Jan. 18, 2027.
-
Any stablecoin issuer with a pending substantially complete application with the OCC on or before Jan. 18 may request a waiver for requirements of the act or final rule.