🚨 The U.S. credit union regulator just proposed a federal stablecoin licensing path. This could quietly reshape how stablecoins enter mainstream financial services. On Feb 12, the National Credit Union Administration (NCUA) unveiled its first rulemaking under the Guiding and Establishing National Innovation for US Stablecoins Act, outlining how subsidiaries of federally insured credit unions could become licensed payment stablecoin issuers. A few key takeaways: 🔹 Stablecoins must be issued through separately supervised subsidiaries 🔹 Issuers would need a new NCUA “PPSI” license 🔹 Credit unions cannot invest in or lend to unlicensed stablecoin issuers 🔹 A 120-day decision clock once an application is “substantially complete” 🔹 Applications cannot be denied solely because issuance occurs on a public blockchain That last point matters. The proposal explicitly prevents regulators from rejecting a stablecoin application just because it runs on an open, decentralized network. That’s a significant signal for public-chain infrastructure. Zoom out. The NCUA oversees: • 4,000+ federally insured credit unions • ~144 million members • $2.38 trillion in assets If stablecoins gain a regulated path into that ecosystem, we’re no longer talking about fringe crypto rails. We’re talking about regulated, federally supervised digital dollars potentially integrated into mainstream retail financial services. Important nuance: This proposal focuses on licensing architecture. Reserve, liquidity, capital, AML, and IT risk standards are coming next. But the structure is forming. The big strategic question: Will credit unions use stablecoins to compete with banks and fintechs — or will this remain a defensive regulatory framework? Either way, this is another step toward institutionalized stablecoin infrastructure in the U.S. 👉 If you want to understand how stablecoin regulation, federal licensing, and digital asset infrastructure are evolving, our courses break down the economics, and implementation pathways shaping the next phase of finance. 🔘Blockchain Accounting Course Series 🔘Blockchain Audit Course Series 🔘Blockchain Finance Course Series 🔘Blockchain Law & Digital Assets Course Series #Stablecoins #CryptoRegulation #FinTech #DigitalAssets #GENIUSAct #Blockchain #USPolicy #FinancialServices #Web3 #OnchainFinance #FutureOfFinance https://hubs.li/Q0435g040