Where the rules stand

On September 1, 2026 the SEC proposed the first broad update of its transfer agent rules in decades, including how transfer agents may keep records on a blockchain. The rules are proposed, not final, and may change.

• Sep 1, 2026: SEC proposes the rules (Release No. 34-106246). SEC, September 1, 2026
• Sep 4, 2026: Published in the Federal Register, which starts the 60-day comment period. Federal Register, September 4, 2026
• Nov 3, 2026: Public comments due (File No. S7-2026-30). SEC, September 1, 2026

The GENIUS Act, signed July 18, 2025, sets a federal framework for payment stablecoins. It takes effect by January 18, 2027 at the latest. The OCC adopted its implementing rule on October 21, 2026; the other agencies' rules are proposed and not final.

• Jul 18, 2025: GENIUS Act signed into law (Public Law 119-27). Congress.gov, July 18, 2025
• Apr 8, 2026: FinCEN and OFAC propose AML and sanctions program rules for permitted issuers. FinCEN, April 8, 2026
• Jun 18, 2026: FinCEN and the banking agencies propose customer identification program rules. FinCEN, June 18, 2026
• Aug 17, 2026: Treasury proposes rules on when a stablecoin is issued, offered, or sold in the United States. U.S. Treasury, August 17, 2026
• Oct 21, 2026: The OCC adopts its final rule implementing the Act for the issuers it supervises, effective January 18, 2027. OCC, October 21, 2026
• Jan 18, 2027: Latest date the Act takes effect: the earlier of this date or 120 days after final rules. Congress.gov, July 18, 2025