NCUA Proposes Rule for Permitted Payment Stablecoin Issuer Applications

Kyle Hauptman

Today, the National Credit Union Administration (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.
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“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 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.  

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