The National Credit Union Administration (NCUA) issued a notice of proposed rulemaking that would establish the approval framework for applicants seeking to become permitted payment stablecoin issuers under the GENIUS Act. The proposal is positioned as NCUA’s first step in implementing the Act, with the agency indicating it is on track to meet Congress’ July 18 deadline and that credit unions should not face disadvantages relative to other entities in timing or standards. The proposal is available in the Federal Register for public comment, with the comment period closing on April 13, 2026. NCUA also published additional clarifying information on its Financial Technology and Digital Assets Resource Page.
National Credit Union Administration 2026-02-11
United States' National Credit Union Administration proposes framework for permitted payment stablecoin issuer approvals under the GENIUS Act
The National Credit Union Administration (NCUA) proposed a rule to establish an approval framework for applicants to become permitted payment stablecoin issuers under the GENIUS Act, aiming to meet the July 18 congressional deadline. The proposal is open for public comment until April 13, 2026, and further details are available on NCUA's Financial Technology and Digital Assets Resource Page.