The final rule to implement the GENIUS Act is expected in the near term and no later than the end of October, according to comments from U.S. Comptroller of the Currency Jonathan Gould cited by crypto reporter Eleanor Terrett. Gould made the remarks at the Milken Institute's "Building the New Digital Economy" event.
OCC signals GENIUS Act rule by late October
Terrett said Gould indicated that the final implementing rule for the GENIUS Act should be released soon, with an outside deadline of late October. No additional details on the substance of the rule were disclosed in the input.
Charles Schwab expands crypto trading access
Charles Schwab (NYSE: SCHW) CEO Rick Wurster said during an Oct. 15 business update that Schwab Crypto has completed a broader retail rollout and has started phasing in crypto deposit and withdrawal services for eligible clients.
Wurster said the platform plans to add trading support for SOL, AVAX and LINK before year-end. Schwab Crypto currently supports spot trading in BTC and ETH, and some eligible clients can already move crypto assets into and out of their Schwab Crypto accounts.
He also said crypto trading and prediction markets will become new sources of trading-related revenue for the company. As of the end of the third quarter, Schwab had about $13.33 trillion in client assets and roughly 40.30 million active brokerage accounts.
Deutsche Bank preparing crypto custody launch
Deutsche Bank, Germany's largest bank, plans to launch a crypto asset custody service in the coming weeks and expand it to Asian financial centers in 2027.
Gerald Podobnik, co-head of corporate banking, said the initial service will support custody for major crypto assets including BTC and ETH. Later phases are expected to extend to conversions between stablecoins and traditional currencies. Deutsche Bank also plans to introduce tokenized deposits and help clients issue digital bonds and other on-chain securities. The project is part of the bank's broader strategy to grow its corporate banking business.
Japanese banks complete joint yen stablecoin test
Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation and Mitsubishi UFJ Trust and Banking said on Oct. 16 that they had completed a joint yen stablecoin issuance and cross-border payment test.
The test ran from July 17 to July 23. The three major banks acted as joint settlors, while Mitsubishi UFJ Trust and Banking served as trustee. The scenario simulated cross-border settlement between Mitsubishi Corporation's operations in Japan and overseas, verifying the issuance, transfer and redemption process for the stablecoin.
Participating institutions said the trial confirmed the technical and operational feasibility of a jointly issued model involving multiple banks. The three banks had previously targeted the start of live transactions within fiscal 2026, but the system has not yet entered commercial use.
The Information reports opposition to tokenized stock plan tied to OKX and ICE
According to The Information, CoreWeave and Broadcom have objected to a stock tokenization request submitted by a joint venture involving OKX and Intercontinental Exchange, or ICE.
The joint venture plans to list tokenized versions of related companies' shares on its trading platform. It has notified 63 stock issuers, and 9 of them have objected to having their shares listed in tokenized form.
Russia targets full ban on personal P2P crypto trades from July 2027
New regulatory guidance from the Bank of Russia shows that the country plans to fully prohibit direct person-to-person crypto trading without an intermediary starting on July 1, 2027. From that date, all trades would need to go through approved compliant intermediaries.
Regulators also made clear that individuals will not be allowed to withdraw crypto assets from regulated digital accounts to self-custody wallets.
The move comes as Russia accelerates the rollout of a licensed crypto market framework. The central bank on Monday formally approved crypto exchange operations for Sberbank, the country's largest bank, while the use of crypto to pay for goods and services inside Russia remains strictly banned.