; final determination (I) In general Not later than 30 days after the date of receipt of any notice of the denial of an application under this subsection, the applicant may request, in writing, an opportunity for a written or oral hearing before the primary Federal payment stablecoin regulator to appeal the denial. (II) Timing Upon receipt of a timely request, the primary Federal payment stablecoin regulator shall notice a time (not later than 30 days after the date of receipt of the request) and place at which the applicant may appear, personally or through counsel, to submit written materials or provide oral testimony and oral argument). (III) Final determination Not later than 60 days after the date of a hearing under this clause, the primary Federal payment stablecoin regulator shall notify the applicant of the final determination of the primary Federal payment stablecoin regulator, which shall contain a statement of the basis for that determination, with specific findings. (IV) Notice if no hearing If an applicant does not make a timely request for a hearing under this clause, the primary Federal payment stablecoin regulator shall notify the applicant, not later than 10 days after the date by which the applicant may request a hearing under this clause, in writing, that the denial of the application is a final determination of the regulator. (C) Failure to render a decision If the primary Federal payment stablecoin regulator fails to render a decision on a complete application within the time period specified in subparagraph (A), the application shall be deemed approved. (D) Right to reapply The denial of an application under this subsection shall not prohibit the applicant from filing a subsequent application. (5) Report on pending applications Each primary Federal payment stablecoin regulator shall annually report to Congress on the applications that have been pending for 6 months or longer since the date of the initial application filed under paragraph (1) where the applicant has been informed that the