Under the GENIUS Act, the NCUA Board has issued a proposed rule outlining the framework for applicants seeking NCUA’s approval to become permitted payment stablecoin issuers. The rule would shape licensing and oversight for federally insured credit unions that issue stablecoins, as described in the GENIUS Act.
The proposal would also establish regulations limiting federally insured credit unions to invest in NCUA-licensed permitted payment stablecoin issuers. This framework aims to balance innovation in digital payments with the safety and soundness of the credit union system.
Comments are due April 13, 2026, at 11:59 PM Eastern. For more information or to submit a comment, visit Regulations.gov or see 12 CFR 706, Investments in and Licensing of Permitted Payment Stablecoins Issuers (GENIUS Act). For more information, visit the NCUA’s Financial Technology and Digital Assets page.
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