NCUA announced a Notice of Proposed Rule Making outlining the framework for applicants seeking NCUA approval to become a permitted payment stablecoin issuer, as outlined in the GENIUS Act.
“This proposed rule is the first step in NCUA’s implementation of the GENIUS Act,” said NCUA Chairman Kyle Hauptman.
“We’re on track to meet the Congress’ July 18 deadline.
Credit unions should be aware that they won’t be at a disadvantage versus other entities, whether in timing or standards.”
The Defense Credit Union Council said it welcomed the agency’s publication of the proposed rulemaking and appreciates NCUA’s commitment to transparency and stakeholder engagement throughout the regulatory process.
“DCUC is carefully reviewing the proposal in detail and will be submitting comprehensive comments to ensure the final rule reflects the operational realities and mission-driven structure of credit unions,” stated DCUC Chief Advocacy Officer Jason Stverak.
“As always, our analysis will focus on how the proposal affects credit unions’ ability to deliver affordable financial services, maintain strong capital positions, and meet the unique needs of underserved and mobile populations, including active-duty servicemembers. DCUC looks forward to constructive engagement with the NCUA board and staff as this process moves forward and remains committed to ensuring the final rule strengthens, not constrains, the ability of credit unions to serve their members and communities effectively.”
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 April 13, 2026.
Additionally, NCUA has posted additional information to help clarify the proposed rules on its Financial Technology and Digital Assets Resource Page.
The NCUA unveiled a Notice of Proposed Rule Making outlining a framework for applicants seeking NCUA approval to become permitted payment stablecoin issuers under the GENIUS Act.
The measure marks the first step in implementing the GENIUS Act, with the agency aiming to meet the July 18 congressional deadline and ensure credit unions are not disadvantaged by timing or standards.
The proposal is open for review in the Federal Register.
The Defense Credit Union Council welcomed the move and affirmed its commitment to transparency and stakeholder engagement.
DCUC plans to submit comprehensive comments to ensure the final rule reflects credit unions’ operational realities, mission-driven structure, and ability to deliver affordable financial services while maintaining strong capital and serving underserved and mobile communities, including active-duty servicemembers.
Stakeholders can comment on the proposal through the Federal Register, with a deadline of April 13, 2026.
NCUA also provides clarifications on its Financial Technology and Digital Assets Resource Page to help explain the proposed rules.
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