BPI and The Clearing House Association Comment on FDIC’s Proposal for BSA and Sanctions Compliance Standards for FDIC-Supervised Permitted Payment Stablecoin Issuers

Bank Policy Institute

"...As we have noted in prior comment letters responding to different regulatory proposals under the GENIUS Act, the Associations remain concerned that commenters have not been given a meaningful opportunity to evaluate the numerous interdependent proposals implementing the GENIUS Act either individually or comprehensively. We have previously requested extensions of the comment periods for various proposals to implement the GENIUS Act, which generally have had insufficient 60-day comment periods and overlapping comment deadlines."