Banking Industry Demands 60 More Days Before Responding to Stablecoin Regulations
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Four major US banking lobby groups (ABA, BPI, CBA, ICBA) jointly wrote to Treasury, FDIC, FinCEN and OFAC asking for a 60-day extension to comment on proposed stablecoin rules. Current comment deadlines fall June 2–9 and the groups say three stablecoin rules depend on an OCC framework that is not yet finalized, creating regulatory uncertainty for crypto and DeFi participants. The lobbyists represent banks holding trillions in deposits and millions of customers; the extension request could delay regulatory clarity affecting stablecoin adoption, fundraising and exchange (CEX/DEX) compliance.
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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.
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