Data / Federal rules / 2026-02868
Investments in and Licensing of Permitted Payment Stablecoins Issuers
The National Credit Union Administration published this proposed rule in the Federal Register on February 12, 2026. Comments closed on April 13, 2026.
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What the agency says
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. This proposed rule proposes regulations to implement the statutorily required process for approval and licensure of permitted payment stablecoin issuers (PPSIs) subject to the NCUA's jurisdiction. It also proposes regulations limiting FICUs to investing in NCUA-licensed PPSIs. A forthcoming proposal will propose regulations to implement the standards and restrictions imposed by the GENIUS Act on PPSIs.
Key facts
- Document number
- 2026-02868
- Type
- Proposed rule
- Action
- Proposed rule
- Agency
- National Credit Union Administration
- Published
- February 12, 2026
- Comments due
- April 13, 2026
- Dates
- Comments must be received by April 13, 2026.
- Regulation ID (RIN)
- 3133-AF69
- Code of Federal Regulations
- 12 CFR 706
- Topics
- Accounting; Advertising; Credit unions; Investigations; Investments
- Pages
- 22
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Everything from the National Credit Union Administration · Rules on accounting · Rules on advertising · Rules on credit unions · Published in February 2026
Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.