OCC proposes new information collection for payment stablecoin licensing

The Office of the Comptroller of the Currency (OCC) announced a proposed information collection titled "Applications for Licensing or Registration to Issue Payment Stablecoins Under the GENIUS Act." The agency is seeking a new OMB control number, 1557-NEW, and has sent the collection to OMB for review. Comments on the proposal must be received by November 23, 2026.

The collection supports the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, enacted on July 18, 2025 and effective January 18, 2026. Under the Act, only a permitted payment stablecoin issuer (PPSI) may issue payment stablecoins in the United States, and foreign issuers must register with the OCC. The OCC's proposed rule, published March 2, 2026, set out the licensing and registration process; the final rule appears elsewhere in this issue of the Federal Register.

Applicants must submit a detailed business plan, reserve and redemption policies, risk-management program, and certifications that no material misrepresentations are made. For PPSI applicants, the OCC will evaluate financial condition, officer and director criminal history, competence and integrity of leadership, redemption policy compliance, and the ability to conduct activities safely. Foreign issuers will be assessed on Treasury's determination of comparable supervision, U.S. operational resources, compliance information, financial-stability and illicit-finance risks, and safe-sound conduct.

The notice defines the affected public as "businesses or other for-profit" entities. It provides electronic and mail submission instructions, including the requirement to reference "OCC" and "1557-NEW" in comments. All comments become part of the public record and will be posted on www.reginfo.gov.

For further information, contact Shaquita Merritt, Clearance Officer, at (202) 649-5490. The notice appears in the Federal Register, Volume 91, Number 204, pages 66939-66942.