NCUA Proposes First Stablecoin Licensing Framework Under GENIUS Act

[lingriiddd]

The U.S. National Credit Union Administration (NCUA) has unveiled its first proposed rules under the GENIUS Act, outlining how subsidiaries of federally insured credit unions could become licensed payment stablecoin issuers. The proposal would require these entities to obtain an official NCUA Permitted Payment Stablecoin Issuer (PPSI) license before issuing any stablecoins.

Additionally, federally insured credit unions would be barred from investing in or lending to stablecoin issuers unless those issuers hold a PPSI license. While the current draft focuses strictly on licensing and investment limits, future rulemaking will address reserve requirements, capital standards, liquidity, anti–illicit finance controls, and IT risk management. Public comments will be open for 60 days once published in the Federal Register.

#Stablecoins #CryptoRegulation #GENIUSAct #NCUA #DigitalAssets

[cryptobro]

automatic approval after 120 days if they dont respond? thats actually kinda wild