Agency Information Collection Activities: Proposed Information Collection; Comment Request; Applications for Licensing or Registration To Issue Payment Stablecoins Under the GENIUS Act
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites comment on a continuing information collection, as required by the Paperwork Reducti...
Office of the Comptroller of the Currency (OCC), Treasury. ACTION: Notice and request for comment.
SUMMARY:
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is proposing a new information collection to comply with the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act or the Act) requirement for entities seeking to issue payment stablecoins in the United States. The OCC is seeking a new OMB control number for this information collection.
DATES:
Comments must be received by September 25, 2026.
ADDRESSES:
Commenters are encouraged to submit comments by email, if possible. You may submit comments by any of the following methods:
Mail:
Chief Counsel's Office, Attention: Comment Processing, Office of the Comptroller of the Currency, Attention: 1557-NEW, 400 7th Street SW, Suite 1E-216, Washington, DC 20219.
Hand Delivery/Courier:
400 7th Street SW, Suite 1E-216, Washington, DC 20219.
Fax:
(571) 293-4835.
Instructions:
You must include “OCC” as the agency name and “1557-NEW” in your comment. In general, the OCC will publish comments on
www.reginfo.gov
without change, including any business or personal information provided, such as name and address information, email addresses, or phone numbers. Comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not include any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure.
Following the close of this notice's 60-day comment period, the OCC will publish a second notice with a 30-day comment period. You may review comments and other related materials that pertain to this information collection beginning on the date of publication of the second notice for this collection by the method set forth in the next bullet.
Viewing Comments Electronically:
Go to
www.reginfo.gov.
Hover over the “Information Collection Review” tab and click on “Information Collection Review” from the drop-down menu. From the “Currently under Review” drop-down menu, select “Department of the Treasury” and then click “submit.” This information collection can be located by searching OMB control number “1557-New” or “Applications for Licensing or Registration to Issue Payment Stablecoins Under the GENIUS Act.” Upon finding the appropriate information collection, click on the related “ICR Reference Number.” On the next screen, select “View Supporting Statement and Other Documents” and then click on the link to any comment listed at the bottom of the screen.
For assistance in navigating
www.reginfo.gov,
please contact the Regulatory Information Service Center at (202) 482-7340.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, Clearance Officer, (202) 649-5490, Chief Counsel's Office, Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219. If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
SUPPLEMENTARY INFORMATION:
Under the PRA (44 U.S.C. 3501et seq.), Federal agencies must obtain approval from the OMB for each collection of information that they conduct or sponsor. “Collection of information” is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency requests or requirements, imposed on ten or more persons, that members of the public submit reports, keep records, or provide information to a third party. Section 3506(c)(2)(A) of title 44 generally requires Federal agencies to provide a 60-day notice in the
Federal Register
concerning each proposed collection of information, including each proposed extension of an existing collection of information, before submitting the collection to OMB for approval. To comply with this requirement, the OCC is publishing notice of this collection.
( printed page 47033)
Title:
Applications for Licensing or Registration to Issue Payment Stablecoins Under the GENIUS Act.
OMB Control No.:
1557-NEW.
Type of Review:
Regular.
Affected Public:
Businesses or other for-profit.
Description:
The GENIUS Act [1]
was enacted on July 18, 2025. The Act will be effective on January 18, 2026. The Act establishes a regulatory framework for payment stablecoin activities. On March 2, 2026, the OCC issued a proposed rule that would implement requirements of the Act with respect to the issuance of payment stablecoins and certain related activities by entities subject to the OCC's jurisdiction (the proposed rule). The Act generally prohibits any person other than a permitted payment stablecoin issuer (PPSI) from issuing payment stablecoins in the United States. Further, the Act prohibits a foreign payment stablecoin issuer from offering, selling, or otherwise making available in the United States a payment stablecoin unless, among other conditions, the foreign payment stablecoin issuer is registered with the OCC.
The proposed rule sets out the process by which entities may seek OCC approval to become a PPSI or for foreign payment stablecoin issuers to register with the OCC. The OCC is now proposing a new information collection which includes the application forms which these entities will complete and submit to the OCC.
Proposed 12 CFR 15.30(b)(1) of the proposed rule outlines the information required for approval of PPSIs. Proposed 12 CFR 15.30(c) outlines the factors against which the OCC will evaluate substantially complete applications. These are:
(1) The ability of the applicant (or in the case of an applicant that is an insured national bank, Federal savings association or insured Federal branch, the subsidiary of the applicant) based on financial condition and resources, to meet the requirements for issuing payment stablecoins under subpart B of proposed 12 CFR part 15;
(2) Whether any officer or director of the applicant has been convicted of a felony offense involving insider trading, embezzlement, cybercrime, money laundering, financing of terrorism, or financial fraud;
(3) The competence, experience, and integrity of the officers, directors, and principal shareholders of the applicant, its subsidiaries, and parent companies, including:
(i) The record of those officers, directors, and principal shareholders of compliance with laws and regulations; and
(ii) The ability of those officers, directors, and principal shareholders to fulfill any commitments or conditions imposed by the OCC in connection with the application filed under this section or any prior application; and
(4) Whether the applicant's redemption policy meets the standards under proposed 12 CFR 15.12.
The application must include an overview of the applicant, a detailed business plan, and information to assess the above factors, including proposed activities and their permissibility; reserve policy and requirements; redemption policy and requirements; risk management policy and program, and certification that any filing or supporting material submitted to the OCC contains no material misrepresentations or omissions. In addition, the application must include or the applicant must ensure each director, executive officer, and principal shareholder also submits the information prescribed in the Interagency Biographical and Financial Report, available at
www.occ.gov.
Proposed 12 CFR 15.32(b)(1) of the proposed rule outlines the information required for prior approval of foreign payment stablecoin issuers. Proposed 12 CFR 15.32(c) outlines the factors against which the OCC will evaluate applications for registration. These are:
(1) The Secretary of the Treasury's determination that the foreign payment stablecoin issuer is subject to a regulatory and supervisory regime comparable to the GENIUS Act with respect to payment stablecoins under section 18 of the GENIUS Act (12 U.S.C. 5916);
(2) The financial and managerial resources of the United States operations of the foreign payment stablecoin issuer;
(3) Whether the foreign payment stablecoin issuer will provide adequate information to the OCC to determine compliance with the GENIUS Act and this part;
(4) Whether the foreign payment stablecoin issuer presents a risk to the financial stability of the United States, including risks relating to ensuring timely redemption for United States customers; and
(5) Whether the foreign payment stablecoin issuer presents illicit finance risks to the United States.
The application must include an overview of the applicant, a detailed business plan, and information to assess the above factors, including evidence that the Secretary of the Treasury has determined that the applicant is subject to regulatory supervisory regime comparable to the GENIUS Act with respect to payment stablecoins, under section 18 of the GENIUS Act (12 U.S.C. 5916), a certification that the applicant will make available to the OCC all information that the OCC deems necessary to determine and enforce compliance with the GENIUS Act, the applicant's consent to United States jurisdiction relating to enforcement of the GENIUS Act and proposed part 15, and certification that any filing or supporting material submitted to the OCC contains no material misrepresentations or omissions.
Estimated Burden
Estimated Frequency of Response:
On occasion.
Estimated Number of Respondents:
50.
Estimated Total Annual Responses:
50.
Estimated Total Annual Burden:
6,250 hours.
Comments submitted in response to this notice will be summarized and included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on:
(a) Whether the collection of information is necessary for the proper performance of the functions of the OCC, including whether the information has practical utility;
(b) The accuracy of the OCC's estimate of the burden of the collection of information;
(c) Ways to enhance the quality, utility, and clarity of the information to be collected;
(d) Ways to minimize the burden of the collection on respondents, including through the use of automated collection techniques or other forms of information technology; and
(e) Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.
Sarah E. Turney,
Assistant Director, Office of the Comptroller of the Currency.
Use this for formal legal and research references to the published document.
91 FR 47032
Web Citation
Suggested Web Citation
Use this when citing the archival web version of the document.
“Agency Information Collection Activities: Proposed Information Collection; Comment Request; Applications for Licensing or Registration To Issue Payment Stablecoins Under the GENIUS Act,” thefederalregister.org (July 27, 2026), https://thefederalregister.org/documents/2026-15088/agency-information-collection-activities-proposed-information-collection-comment-request-applications-for-licensing-or-r.