DEFI Groups Push Urgent Genius Act Clarity From Usocc

Two prominent crypto advocacy groups are pressing the US Office of the Comptroller of the Currency (OCC) to move quickly on implementing the GENIUS Act — warning that regulatory delays could fracture the stablecoin market and hold back innovation at a critical moment for digital finance.

The DeFi Education Fund and the Solana Policy Institute have jointly called for clear, timely guidance on stablecoin issuer licensing as Washington shapes the rules that will govern the digital dollar ecosystem.

What the GENIUS Act Requires from the OCC

The GENIUS Act — short for Guiding and Establishing National Innovation for US Stablecoins — establishes the first comprehensive federal framework for payment stablecoins in the United States. The Act establishes a new federal framework for payment stablecoins and directs the OCC to implement key elements of that framework through regulation and supervision. Under the law, federally licensed nonbank stablecoin issuers, which currently fall outside the traditional federal bank regulatory regime, would now be subject to oversight by the OCC.

The OCC has already published a proposed rulemaking on implementation, but industry participants argue the detail and pace of that process matter enormously. The implementation of the GENIUS Act raises numerous significant policy questions, and the way it is carried out — including the prudential requirements that apply to payment stablecoin issuers — could have significant effects on financial stability, credit creation, consumer protection, and the broader economy.

Why the Advocacy Groups Are Pushing for Urgency

The DeFi Education Fund and Solana Policy Institute have argued that implementation must be grounded in clear principles. Their joint submission lays out three guiding principles: regulatory obligations must centre on control; implementation must focus on function over form; and rules must align with existing statutory text and FinCEN guidance. The groups have also pushed for a principles-based, technology-neutral framework that can evolve alongside rapidly advancing blockchain infrastructure.

The Solana ecosystem has a direct stake in the outcome. In 2025, more than $11 trillion moved around on the Solana network via stablecoins. Solana Policy Institute president Kristin Smith has framed the regulatory debate in competitive terms. Smith said the fight over stablecoin rules is increasingly becoming a battle over competition, not just compliance, pointing to a split now emerging in Washington's crypto agenda.

The broader concern shared by both groups is that unclear or inconsistent licensing standards could create a fragmented regulatory environment — disadvantaging US-based issuers relative to international peers and slowing adoption at the infrastructure level. By bringing regulatory clarity to the asset class, the legislation is expected to stimulate the growth of the industry.

As policymakers continue to work through the rulemaking process, the pressure from DeFi-aligned groups reflects a wider industry push to ensure that the GENIUS Act delivers on its promise of coherent, innovation-friendly oversight — rather than becoming another source of regulatory uncertainty.

Source: CoinTelegraph

Sources
DeFi Education Fund — US Senate Passes GENIUS Act
Bank Policy Institute — Joint Trades Comment on OCC GENIUS Act Implementation
TheStreet — Solana Policy Institute on Stablecoin Competition