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The National Credit Union Administration (NCUA) has announced a proposed rule to establish operational and risk management standards for payment stablecoin issuers (PPSI) licensed by the NCUA under the GENIUS Act framework. According to Odaily, NCUA Chairman Kyle Hauptman stated that the rule aims to ensure credit unions are not disadvantaged in terms of stablecoin regulatory standards and seeks to align as closely as possible with proposed standards for bank subsidiaries. The proposed rule is now open for public comment in the Federal Register, with the comment period ending on July 17, 2026.