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Crypto

U.S. OCC final rules on GENIUS Act stablecoin rewards split banks and crypto industry

U.S. banks and the crypto industry are reacting in opposite ways after the Office of the Comptroller of the Currency finalised rules on stablecoin rewards under the GENIUS Act. Bank groups say allowing third-party rewards could pull money from deposits and weaken lending capacity, while crypto groups call the decision closer to Congress’ original intent. The rules take effect on Jan. 18, 2027, and some analysts say uncertainty over what structures are allowed may persist.

Crypto

U.S. regulators rush pro-crypto rules, with court review and change of administration as variables

The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission have rolled out a series of pro-crypto rules, accelerating market institutionalisation. A new issue is whether the measures can withstand court review and a change of administration. Formal rules grounded in legal authority may be more durable, while interpretive guidance and FAQs can be revised or withdrawn more easily. Analysts and lawyers cite tighter judicial scrutiny and past policy reversals as key risks.

Crypto

TD Cowen says U.S. CFTC crypto trading rules likely delayed until early 2028

New U.S. Commodity Futures Trading Commission rules on cryptocurrency trading may not be proposed until late in the first quarter or early in the second quarter of 2027, with implementation of final rules likely slipping into early 2028, TD Cowen said. The outlook reflects legislative gridlock and a lengthy rulemaking process. TD Cowen also flagged potential tougher platform requirements and the risk of legal challenges extending beyond 2028.