On May 15, 2026, the NCUA a proposed rule outlining the operational and risk management standards for an NCUA-licensed permitted payment stablecoin issuer (PPSI), as outlined in the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. This supplements the February 2026 proposed regulations to govern investments in and licensing of PPSIs subject to the NCUA's jurisdiction.

The proposed rule outlines rules for NCUA-licensed PPSIs and certain custody activities by federally insured credit unions and licensed issuers. It applies only to payment stablecoins under the NCUA’s authority and includes updates related to share insurance, tokenized shares, and other related regulations. The rules would take effect under the timeline set by the GENIUS Act and may be updated as the stablecoin industry evolves.

Comments on the proposed rule will be accepted until July 17, 2026.

Read the NCUA’s press release here.

The proposed rule can be found here.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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