Banks seek to slow down implementation of crypto's GENIUS Act on stablecoin oversight
CoinDesk·2h ago·Neutral
What Happened
U.S. bank trade associations requested the Treasury Department extend public comment periods for three GENIUS Act stablecoin oversight rule proposals. Bankers seek at least 60 additional days after the OCC completes its framework, arguing the rules are interconnected and require comprehensive evaluation of complex regulatory requirements.
Key Entities
U.S. Treasury DepartmentFDICOCCOFACFinCENAmerican Bankers AssociationBank Policy InstituteGENIUS Act