← Artículos y guías sobre fraude, ciberseguridad, privacidad y PLD
GENIUS Act explained: U.S. stablecoin rules from January 2027
GENIUS Act explained: 1:1 reserves, two-day redemption, no yield and AML rules for U.S. payment stablecoins taking effect January 18, 2027, and what is pending.
The GENIUS Act, the first U.S. federal stablecoin law, takes effect on January 18, 2027. On October 21, 2026, the OCC issued its final rule on how payment stablecoin issuers will be licensed and supervised, according to Sidley and Orrick.
What is the GENIUS Act?
Signed on July 18, 2025 as Public Law 119-27, it regulates "payment stablecoins": digital assets issued for payment or settlement and redeemable at a fixed amount such as $1, per the Congressional Research Service. They are not securities, not commodities and not federally insured.
What are the key requirements?
| Topic | Requirement |
|---|---|
| Reserves | At least $1 of permitted reserves per $1 issued, at all times (cash, insured deposits, short-dated T-bills, Treasury repos, government money market funds) |
| Liquidity | At least 5% of reserves available on demand (proposal had 10%) (Orrick) |
| Redemption | At par within two business days (Sidley) |
| Operational backstop | Liquid assets equal to 12 months of expenses |
| Interest | Issuers may not pay holders interest or yield solely for holding |
| Insolvency | Holders have priority over other creditors |
Who can issue stablecoins?
Bank and credit union subsidiaries and approved nonbanks. Nonbank issuers under $10 billion outstanding may use a "substantially similar" state regime; above that, federal supervision applies (CRS). Applications not decided within 120 days of being substantially complete are deemed approved. Existing issuers must file an application and a transitional waiver request by January 18, 2027; waivers can last up to 12 months. A broader ban on unlicensed stablecoins starts July 18, 2028 (Orrick).
How does the law handle money laundering and sanctions?
Issuers are subject to the Bank Secrecy Act and must certify AML and sanctions programs. On April 8, 2026, FinCEN and OFAC jointly proposed the rule detailing those programs (OFAC); the OCC left AML to that separate, still-pending rulemaking. U.S. platforms may offer foreign stablecoins only if the issuer can technically comply with lawful orders and sits in a jurisdiction Treasury deems comparable, a process Treasury has not yet proposed (Freshfields). Dollar stablecoins are central to crypto laundering, from underground USDT banking to thefts like the Binance hack.
Why it matters beyond the U.S.
Most stablecoins used in Brazil and Latin America are dollar-denominated, so the GENIUS standard will shape which tokens reach U.S. users and how foreign issuers operate. Brazil's central bank is moving in the same direction with rules for virtual asset providers; see our AML and crypto rules overview.
How to protect yourself
- Be wary of "yield-bearing stablecoins": issuers cannot pay interest just for holding. High fixed returns are a classic scam sign.
- From 2027, prefer tokens from licensed or waived issuers that publish reserve reports.
- A stablecoin is not a bank deposit and has no FDIC insurance.
- Businesses should review KYC, transaction monitoring and sanctions screening before the FinCEN/OFAC rule is final.
Still pending: the final AML/sanctions rule, the foreign-jurisdiction process and OCC bank-capital rules for digital assets. Follow updates on our crypto page and U.S. regulation. Informational only; not legal or financial advice.
Fuente
- Congressional Research Service (IN12553)
- OFAC — FinCEN/OFAC proposed rule (Apr 8, 2026)
- Sidley — OCC final rule
- Orrick — OCC final rule
- Freshfields — Treasury gatekeeping proposal
- Troutman Pepper — OCC proposed rule