US Finalizes GENIUS Act Stablecoin Rules with One-to-One Reserves and Interest Ban

U.S. Treasury and OCC finalized GENIUS Act rules for payment stablecoins effective January 18, 2027. Stablecoins must hold one-to-one reserves in cash or U.S. Treasuries, cannot pay interest to holders, and must report if daily redemptions exceed 10% of circulating supply. The rules redirect crypto liquidity into U.S. Treasuries and end retail yield.