TL;DR:
- The American Bankers Association (ABA) formally requested a 60-day extension to submit comments on the GENIUS Act regulations.
- The petition is directed to the Treasury, the FDIC, and FinCEN, entities that must finalize regulations following the signing of the law in July 2025.
- The delay seeks to align FDIC regulations with those of the OCC, avoiding legal inconsistencies in the regulation of stablecoin issuers.
The American Bankers Association (ABA) has requested an extension from United States government agencies to evaluate the regulations derived from the U.S. Stablecoin Bill.
The request comes after President Donald Trump signed the GENIUS Act into law in July 2025. The banking association maintains that an additional two-month period is necessary to ensure a coherent technical response.
The legal framework establishes that the legislation will take effect 120 days after the final regulations are issued or 18 months after its initial enactment. The banks’ goal is to achieve inter-agency synchrony.
The ABA argues that the regulations proposed by the FDIC and the Treasury depend substantially on the final criteria established by the Office of the Comptroller of the Currency (OCC). Without that framework, the comments would be incomplete.
The financial group emphasizes that a deep review of the consistency of rules applicable to stablecoin issuers (PPSIs) cannot be conducted without first knowing the OCC’s definitive stance.
Regulatory Dependence and the Future of Crypto Yields
The American Bankers Association’s request occurs amidst a context of high political tension, fueled by the debate over the legal status of yields generated by digital assets. The ABA recently questioned White House reports on this subject.
Furthermore, the traditional financial sector is cautiously observing the evolution of the CLARITY Act in the Senate. This rule, which has already passed the House of Representatives, could redefine the structure of the U.S. crypto market.
Meanwhile, senators like Thom Tillis suggest that key votes could be postponed until May. This adds an extra layer of uncertainty to the implementation schedule of the new rules for stable assets.
The banking industry seeks to protect its competitive position against the rise of native digital companies. Coordination among federal regulators stands as the greatest technical challenge for the current administration.
The extension requested by the ABA could push the effective implementation of the GENIUS Act toward the end of next year. The market awaits an official response from the Department of the Treasury.
