BlockBeats’ reading of the U.S. Office of the Comptroller of the Currency’s final GENIUS Act rules says third-party stablecoin rewards retain room for case-by-case review, while direct issuer interest payments and full-reserve requirements remain in place.
Rewards and reserves
The rules are scheduled to take effect Jan. 18, 2027. BlockBeats says they remove a proposed presumption that some issuer-third-party arrangements are unlawful, leaving platforms room to use rewards to attract or retain users. Issuers still may not pay interest or yield directly to stablecoin holders, and third-party arrangements remain subject to case-by-case review.
The flash also says the final text drops a proposed 20-day weighted-average holding cap for excess reserves and allows those excess reserves to be withdrawn, while assets needed to fully back circulating stablecoins cannot be used. The analysis does not establish that any reward program is approved, and it notes that OCC application timing and separate anti-money-laundering rules remain outstanding. No direct OCC announcement link is included in the flash.