The United States has officially entered what is being described as a “watershed moment in American finance” that helps cement America as the crypto capital of the world and is also being compared to President Abraham Lincoln’s National Currency Act of 1863.
On Wednesday, Treasury Secretary Scott Bessent announced that the Office of the Comptroller of the Currency (OCC) had issued a final rule for GENIUS Act stablecoin rules.
“The GENIUS Act marks a watershed moment in American finance, further cementing the United States as the crypto capital of the world. Just as President Abraham Lincoln’s National Currency Act of 1863 established a national framework for bank-issued currency, the GENIUS Act establishes a federal framework for payment stablecoins in the digital age,” Bessent announced on X.
“The OCC’s final rule carries that landmark legislation forward, providing a clear, practical foundation for private-sector innovation, competition, and American leadership in digital assets.”