US NCUA releases draft rules for authorizing issuance of payment stablecoins

YM Lee

Summary

The US National Credit Union Administration (NCUA) said it has begun the rulemaking process to establish authorization rules for issuing stablecoins for payments.
It said it released a Notice of Proposed Rulemaking (NPRM) detailing the application procedures for authorization to issue payment stablecoins based on the GENIUS Act.
It said the move is viewed as a follow-up step to specify a federal authorization and supervisory framework for payment stablecoins.

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The US National Credit Union Administration (NCUA) has begun the rulemaking process to authorize the issuance of payment stablecoins.

On the 11th (local time), the NCUA said in a statement that it had released a Notice of Proposed Rulemaking (NPRM) detailing the application procedures for authorization to issue payment stablecoins pursuant to the “GENIUS Act.”

NCUA Chairman Kyle Hauptman said, “This proposed rule is the first step in implementing the GENIUS Act,” adding, “We are proceeding on schedule to meet the July 18 deadline set by Congress, and we will ensure that credit unions are not disadvantaged relative to other institutions in terms of timing or standards.”

The proposal was published in the Federal Register, launching a public comment period. The deadline for submitting comments is April 13, 2026.

The move is seen as a follow-up step under the GENIUS Act enacted in July 2025 to flesh out a federal authorization and supervisory framework for payment stablecoins.