Banks seek to slow down implementation of crypto's GENIUS Act on stablecoin oversight

U.S. banking groups argued that a number of federal agencies are moving quickly on stablecoin regulations, making it hard to understand how rules will interact. What to know : The U.S. banking industry is asking for a pause on GENIUS Act comment periods for several stablecoin regulations until the Office of the Comptroller of the Currency finishes its effort. Several bank groups argued that the efforts from the Treasury Department and Federal Deposit Insurance Corp. are dependent on an OCC rule that's not done, yet.