OCC Finalizes GENIUS Act Rule, Drops Third-Party Yield Presumption

The Office of the Comptroller of the Currency finalized its rule implementing the GENIUS Act, removing a presumption that third-party yield arrangements would be treated as prohibited payments. The rule takes effect January 18, 2027, and existing issuers with substantially complete OCC applications pending may seek temporary compliance waivers. The dropped yield presumption is modestly favorable for stablecoin issuers exploring yield products, but the long compliance runway and lack of named assets limit near-term market impact.