Bitcoin Reclaims $84,500 Following Finalized OCC GENIUS Act Stablecoin Regulations

Bitcoin rebounded above $84,500 after the U.S. Office of the Comptroller of the Currency finalized rules for the GENIUS Act regarding payment stablecoins. The framework, effective January 18, 2027, establishes standards for reserve backing, redemptions, and risk management while prohibiting yield distributions to holders. U.S. Treasury Secretary Scott Bessent compared the reform to the National Currency Act of 1863. Crypto open interest climbed 5.5%, outpacing Bitcoin's 2.78% price advance, and spot Bitcoin ETFs drew over $526 million in net inflows on October 19.