Credit Unions Gatecrash the Stablecoin Scene-GENIUS Act Halts the Silence

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In the gray offices where the clock ticks like a stubborn machine, the NCUA thumps out a rule for those who would issue payment stablecoins. The horizon is a July deadline, and the GENIUS Act hangs above it like a difficult ceiling.

On a Tuesday, the National Credit Union Administration spoke again, waking the old halls with new rules. Credit unions may now seek permission to issue payment stablecoins, coins promised to move faster and leave more questions in their wake.

It follows the stern demands of the GENIUS Act. The NCUA posted a note on X and confirmed that the march toward implementation continues, like a factory whistle at dawn.

Today, the NCUA pressed forward with its GENIUS Act plans. It announced a proposed rule outlining a framework for credit union subsidiaries seeking approval to become a permitted payment stablecoin issuer. To learn more, visit the page where regulations breathe:

– The NCUA (@TheNCUA)

Source: TheNCUA

Subsidiaries Get Green Light for Applications

The proposed framework targets credit union subsidiaries specifically. Applications open for permitted payment stablecoin issuer status. Chairman Kyle Hauptman called it step one, a crack in the frozen wall of indifference.

According to the NCUA press release, the agency stays on track. The July 18 deadline remains firm. Credit unions won’t be disadvantaged compared to other entities.

The comment period closes April 13, 2026.

Hauptman spoke of equal treatment, as if equality were a lamp in a dim corridor. The timing will not favor one group over another. Standards apply uniformly across applicants, he affirmed.

The Federal Register now hosts the proposed rule. Stakeholders can review and submit feedback there. NCUA posted clarification materials separately.

Additional information appears on NCUA’s Financial Technology page. The Digital Assets Resource Page provides further details. Credit union subsidiaries seeking approval should consult both.

Level Playing Field Promise

The framework ensures competitive parity. Other entities won’t receive preferential treatment. Credit unions face the same measure as banks.

This marks NCUA’s first major GENIUS Act step. Implementation continues through spring 2026. The agency targets full compliance by mid-July.

The proposed rule outlines specific application requirements. Subsidiaries must meet criteria for approval. NCUA will evaluate each application individually according to the framework.

The NCUA account on X emphasized the historic nature. Payment stablecoin issuance represents new territory. Credit unions enter the digital asset space formally.

The comment period spans 61 days total. Industry feedback shapes final regulations. NCUA considers all stakeholder input before finalizing.

Credit union subsidiaries can prepare applications now. The framework provides clear guidance on requirements. Approval process details remain subject to public comment.

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2026-02-12 19:21