US Comptroller Invites Community Banks to Pursue Stablecoin Issuer Status

A US federal banking supervisor is asking community lenders to take part in building new payment infrastructure based on digital dollar tokens. The agency has published Bulletin 2026-51, which explains how firms can file for approval and request waivers under the GENIUS Act, and it has specifically urged smaller banks to consider applying.

Under the bulletin, community banks may apply to become permitted payment stablecoin issuers themselves, or they may set up a subsidiary to pursue that status. The agency framed the push as part of its broader Community Bank Comeback program, which aims to scale back regulatory burdens and adjust oversight so smaller institutions can expand and remain competitive in their local markets.

Compliance deadline and waiver terms

Issuers of payment stablecoins will need to meet the GENIUS Act's requirements by January 18, 2027. After that date, issuing without prior approval as a permitted issuer can carry criminal penalties.

Existing US issuers that have applications substantially complete and pending by the effective date can generally receive waivers from the prior approval requirement for as long as 12 months, the bulletin says. The agency will start accepting applications once the Office of Management and Budget signs off on the related information collection forms.

What applicants must provide

Applications must describe the applicant's business plan, its reserve arrangements, and its risk management and compliance functions. The agency has committed to a 30-day window to determine whether a filing is complete, and up to 120 days to reach a final decision on filings that are substantially complete.

The guidance does not include market data for specific tokens, so no price reaction is reported in connection with this announcement.