PANews reported on April 23 that, according to CoinDesk, the American Banking Association sent a letter to the Treasury Department and the Federal Deposit Insurance Corporation (FDIC) requesting an extension of the public comment period for the rules related to the GENIUS Stablecoin Act, and recommending at least a 60-day extension after the Office of the Comptroller of the Currency (OCC) completes its rulemaking. Bankers believe that the rules from the Treasury Department's Office of Foreign Assets Control and the Financial Crimes Enforcement Network (FACC), as well as the FDIC's rulemaking, are "directly dependent on the OCC's final framework," and that these regulatory tasks are "extremely broad and complex." Organizations such as the American Bankers Association and the Banking Policy Institute stated that more comprehensive feedback can only be provided after sufficient time has been given to evaluate all proposed rules and compare them against the OCC's final framework.

The GENIUS Act is scheduled to take effect in 2027, and it's not uncommon for federal agencies to extend the review period for complex rules. Meanwhile, the dispute between banks and the crypto industry over stablecoins has delayed the Digital Asset Markets Clarity Act for months and could affect its prospects of becoming law this year.