National Credit Union Administration proposes federal licensing for stablecoin issuers

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The National Credit Union Administration (NCUA) has proposed a new rule under the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act), establishing a federal licensing pathway for stablecoin issuers affiliated with federally insured credit unions. This initiative aims to enhance regulatory oversight and promote safe innovation in the stablecoin market, reflecting the NCUA’s extended supervisory authority over credit union-affiliated stablecoin activities.

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