DCUC Urges Targeted Refinements to NCUA Stablecoin Rulemaking Under GENIUS Act

WASHINGTON, DC – Today, the Defense Credit Union Council, DCUC, submitted comments on the National Credit Union Administration’s (NCUA) proposed rule to implement portions of the Guiding and Establishing National Innovation for U.S. Stablecoins Act.  ​

“We appreciate the NCUA’s leadership in advancing a regulatory framework to implement the GENIUS Act and bring greater clarity to the evolving digital asset marketplace,” says Jason Stverak, DCUC Chief Advocacy Officer. “For credit unions, it is critical that this framework remains flexible, risk-appropriate, and consistent across the broader financial regulatory landscape. With targeted refinements, this rule can empower credit unions to responsibly engage in innovation, expand member services, and ensure they are not left behind as payment technologies continue to evolve.” 
 
This proposal would establish a regulatory framework for payment stablecoin issuers affiliated with federally insured credit unions and represents one of at least two anticipated NCUA rulemakings related to the Act.  
 
DCUC’s recommendations included greater flexibility in subsidiary structures, consistency with other federal regulators, transparent and efficient supervisory processes, and preserving pathways for credit unions to invest in permitted payment stablecoin issuers across regulatory regimes. ​