A large group of top financial services trade associations asked the Treasury Department to extend a deadline for the initial implementation of federal stablecoin regulations under the GENIUS Act.
In a joint letter published Wednesday, the groups asked Treasury to extend the comment period for an advance notice of proposed rulemaking on stablecoins. ANPRs are effectively precursors to official rulemakings, and they’re important for designing policy.
The groups, including the American Bankers Association, Bank Policy Institute, Independent Community Bankers of America, National Bankers Association, America’s Credit Unions, Community Development Bankers Association and Clearing House Association, warned Treasury that a 30-day comment period was "insufficient" when faced with “foundational questions across a wide range of complex and interrelated topics.”
