According to CoinMeta, the U.S. regulations are expected to take effect on January 18, 2027, with some issuance and sales restrictions coming into effect on July 18, 2028. The Federal Reserve Board (FRB) announced the proposed regulations on September 24, 2026, following the implementation proposal published by the Office of the Comptroller of the Currency (OCC) in February 2026. Stablecoin issuers need to assess approval, reserve, and redemption requirements, while distributors must analyze their financial service obligations. Enterprises holding stablecoins need to review redemption channels and counterparty risks. Qualified issuers in states where the outstanding issuance does not exceed $10 billion may opt for state regulation. Payment-type stablecoins must have reserves that cover at least one-to-one of the outstanding tokens, and issuers are not allowed to pay interest or yields merely for holding or using payment-type stablecoins.