Banking Industry Demands 60 More Days Before Responding to Stablecoin Regulations

8h ago•

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Four major banking lobby groups wrote jointly to Treasury, FDIC, FinCEN, and OFAC.
Banks say three stablecoin rules rely on an OCC framework not yet made final.
Comment deadlines fall June 2 to 9, before the OCC rule is even close to done.

Four of the most powerful banking lobby groups in the United States have jointly written to four federal agencies asking for more time before the industry must respond to stablecoin regulations.

The American Bankers Association, the Bank Policy Institute, the Consumer Bankers Association, and the Independent Community Bankers of America filed the request on Monday, targeting the Treasury Department, the FDIC, the Financial Crimes Enforcement Network, and the Office of Foreign Assets Control. Together, the groups represent institutions holding trillions in deposits and millions of American banking customers.