Regulatory Deadline Passes as GENIUS Act Rulebook Remains Pending and Payment Rails Advance
U.S. regulators have passed the GENIUS Act’s July 18, 2026 rulemaking deadline without completing the federal stablecoin rulebook. The law required federal and state payment stablecoin regulators, along with the Treasury Department, to promulgate implementing regulations within one year of its July 18, 2025 enactment.
Circle receives final OCC approval to launch federal trust bank for USDC custody and reserve oversight
Circle has received final approval from the U.S. Office of the Comptroller of the Currency to establish First National Digital Currency Bank, N.A., a national trust bank that will operate as Circle National Trust. The approval was finalized on July 10, 2026, placing a key part of Circle’s digital asset infrastructure under direct federal supervision.
Digital Chamber Defends OCC Crypto Trust Charters
The Digital Chamber pushed back on Senator Elizabeth Warren’s May 18, 2026 letter challenging the OCC’s approval of national trust charters for digital-asset firms. The group argued that the charters are lawful, custody-focused and limited in scope, rather than a backdoor path to full banking powers.