What did the American Bankers Association request on the stablecoin bill?

The American Bankers Association (ABA) asked US regulators for 60 more days to comment on rules tied to the GENIUS Act stablecoin law. The request was sent to agencies including the Treasury, FDIC, FinCEN, and OFAC. This could delay parts of the rulemaking process by up to two months.

What is the GENIUS Act and why does it matter for stablecoins?

The GENIUS Act is a US law signed in July 2025 that sets the regulatory framework for payment stablecoins. It aims to define how stablecoins are issued, supervised, and integrated into the financial system. This is a major step toward formal oversight of the stablecoin market.

Why does the ABA want more time to comment on stablecoin rules?

The ABA argues that key rules from different agencies depend on the final version of the OCC’s stablecoin regulations. Without seeing the OCC’s final rule, banks say they cannot provide meaningful feedback. This suggests concerns about regulatory clarity and coordination.

How could this delay affect stablecoin regulation timelines?

If the 60-day extension is granted, final rulemaking could be pushed back, delaying when the law fully takes effect. The GENIUS Act allows implementation either 120 days after final rules or 18 months after enactment. A delay in rules could shift real-world adoption timelines.

Which US agencies are involved in stablecoin regulation under the GENIUS Act?

Key agencies include the US Treasury, Federal Deposit Insurance Corporation (FDIC), Financial Crimes Enforcement Network (FinCEN), and the Office of Foreign Assets Control (OFAC). The Office of the Comptroller of the Currency (OCC) also plays a central role. These bodies will shape how stablecoins are supervised in practice.

Why is the OCC rule so important in this process?

The OCC is seen as setting the baseline framework for stablecoin regulation, especially for banking-related activities. Other agencies have indicated their rules will align with the OCC’s approach. This makes the OCC’s final rule a critical reference point for the entire system.

How does this news impact stablecoin issuers and crypto investors?

In the short term, this creates regulatory uncertainty and may delay clarity for stablecoin issuers. For investors, it means timelines for compliant products and institutional adoption could shift. However, it also signals that regulators are coordinating, which could strengthen long-term confidence.

What is the debate around stablecoin yield mentioned in the article?

There is ongoing disagreement over whether stablecoins should be allowed to offer yield (interest-like returns). The ABA has pushed back against claims that banning yield would not affect banks. This debate could shape how attractive stablecoins are compared to traditional deposits.

American bankers seek delay on stablecoin rules

Written by Isaac FrancisPublished Apr. 23 2026Last Updated Apr. 22 2026

The American Bankers Association has asked US regulators for a 60-day extension to comment on stablecoin rules, potentially delaying implementation of the GENIUS Act framework.

The request was made in a letter to the US Treasury, FDIC, FinCEN and the Office of Foreign Assets Control, arguing that current timelines do not allow for informed feedback.

“The FDIC has stated explicitly in its notice that it ‘has endeavored, in many areas, to align this proposed rule with the OCC's proposed rule, to the extent relevant,’ and specifically invites comment ‘on the extent to which the primary Federal payment stablecoin regulators should further align in their final rules to promote consistency of regulations applicable to all PPSIs subject to the GENIUS Act,’”

Said the letter.

The ABA said meaningful input is not possible until the Office of the Comptroller of the Currency finalises its own rule, as other agencies’ proposals depend heavily on that outcome.

The GENIUS Act, signed into law in July 2025, allows implementation either 120 days after final regulations are issued or within 18 months, whichever comes first.

The banking group is also involved in broader debates over crypto regulation, including opposition to claims that restricting stablecoin yields would have minimal impact on traditional banks.

Separately, progress on the CLARITY Act remains uncertain in the Senate, with lawmakers considering delays that could push further action on crypto market structure into later this year.