Banking Groups Seek Extension of Stablecoin Comment Periods

A coalition of major U.S. banking trade associations has urged federal regulators to extend public comment periods on three key stablecoin proposals under the GENIUS Act, arguing that the rules are interdependent and require more time for coordinated review.

The request, detailed in a letter sent this week to the Treasury Department and the Federal Deposit Insurance Corporation, came from groups including the American Bankers Association and the Bank Policy Institute. They asked agencies to keep comment periods open for at least 60 days after the Office of the Comptroller of the Currency finalizes its supervisory framework for stablecoin issuers. The associations emphasized that proposals from the Treasury, FDIC, Financial Crimes Enforcement Network and Office of Foreign Assets Control are "directly contingent" on the OCC's work, and reviewing them in isolation would fragment feedback and undermine regulatory consistency.

The GENIUS Act, signed into law in July 2025, establishes a national framework for overseeing payment stablecoins, with implementation targeted before 2027. It sets a two-track timeline: 120 days after final regulations or 18 months after enactment, whichever...