TechFlow reports that on May 18, according to an official announcement, the U.S. National Credit Union Administration (NCUA) issued a Notice of Proposed Rulemaking (NPRM) on May 15, establishing operational and risk management standards for Payment Stablecoin Issuers (PPSIs) licensed by the NCUA, as required under the GENIUS Act. NCUA Chairman Kyle Hauptman stated that the rule aims to ensure credit unions and bank subsidiaries operate under consistent standards and are not placed at a competitive disadvantage. The proposed rule has been published in the Federal Register, and the public may submit comments until July 17, 2026.
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