Rules required under the U.S. GENIUS Act are still not finished even though the statutory one-year drafting deadline passed four months ago. The law, approved by Congress, requires regulators to write rules for stablecoins within a year, but that process remains incomplete. According to Crypto.news, the Office of the Comptroller of the Currency, or OCC, expects the final rule to be released in November. At the same time, Tether has not yet received a reciprocity determination. The effective date for the rules has also continued to slip. The delay leaves a key part of the stablecoin framework unresolved after the deadline set by the legislation.
Rules mandated by the U.S. GENIUS Act are still unfinished, even though the law required regulators to draft stablecoin rules within one year and that deadline passed four months ago.
According to Crypto.news, the Office of the Comptroller of the Currency (OCC) expects the final rule in November. Tether has not yet received a reciprocity determination, and the effective date for the rules has continued to move back.
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