The U.S. banking industry has asked regulators to delay the public comment period for three follow-up rules under the stablecoin regulation known as the \'GENIUS Act\'. CoinDesk reported that U.S. banking groups sent a letter this week to the Treasury Department and the Federal Deposit Insurance Corp, seeking at least 60 additional days for comment after rules tied to the Office of the Comptroller of the Currency are completed.

The American Bankers Association is seeking more time to submit comments as U.S. agencies draft rules to implement the GENIUS Act, a stablecoin bill. It asked the Treasury Department, the FDIC, FinCEN and OFAC to extend deadlines and to allow 60 more days after the OCC issues final rules. The law takes effect 120 days after final rules or 18 months after enactment, whichever is earlier.