WASHINGTON, Feb. 12 -- National Credit Union Administration has issued a proposed rule called: Investments in and Licensing of Permitted Payment Stablecoins Issuers.
The proposed rule was published in the Federal Register on Feb. 12 by Melane Conyers-Ausbrooks, Secretary of the Board.
Summary: The NCUA Board (Board) is seeking comment on proposed regulations to implement portions of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The GENIUS Act charges the NCUA with licensing, regulating, and supervising payment stablecoin issuers that are subsidiaries of federally insured credit unions (FICU subsidiaries). The GENIUS Act also requires the NCUA to issue implementing regulations by July 18th, 2026. T...