ALEXANDRIA, Va.–The National Credit Union Administration has announced a Notice of Proposed Rule Making outlining the operational and risk management standards for an NCUA-licensed permitted payment stablecoin issuer, as outlined in the GENIUS Act.
“This proposed rule supports my view that credit unions will face no disadvantage compared to other entities regarding standards” NCUA Chairman Kyle Hauptman said in a statement.. “Stakeholders will see that we worked diligently to align the standards for NCUA-licensed PPSIs with the standards that are proposed for bank subsidiaries.”
The proposed rule is currently available for review in the Federal Register, where stakeholders will be able to submit comments.
The comment period on the proposed rule will close on July 17, 2026.
