[Proposed Rule on Standards for Permitting Payment Stablecoin Issuers Released by the U.S. National Credit Union Administration] According to an official announcement, the U.S. National Credit Union Administration (NCUA) has released a proposed rule outlining the operational and risk management standards for payment stablecoin issuers permitted under the GENIUS Act and licensed by the NCUA. NCUA Chairman Kyle Hauptman stated that the proposed rule aims to ensure that credit unions are not at a disadvantage in terms of standards and aligns with the proposed standards for bank subsidiaries. The proposed rule has been published in the Federal Register, and the public comment period will end on July 17, 2026.