Treasury Secretary Bessent likens GENIUS Act to Lincoln-era banking reform

What happened: Treasury Secretary Scott Bessent compared the GENIUS Act to the National Currency Act of 1863, after the OCC finalized rules implementing the stablecoin law. Key numbers: OCC rules take effect Jan. 18, 2027. GENIUS Act signed into law in 2025. Bessent drew the comparison more than 160 years apart. Why it matters: Bessent called the law a watershed moment in American finance, and the comptroller of the currency described the rules as a clear, practical framework for payment stablecoin innovation. Coverage: 3 outlets in 24h

Treasury Secretary Scott Bessent compared the GENIUS Act to the National Currency Act of 1863, after the OCC finalized rules implementing the stablecoin law.

Bessent called the law a watershed moment in American finance, and the comptroller of the currency described the rules as a clear, practical framework for payment stablecoin innovation.